Economic Factors that affect Development

Economic Factors

Income and expenditure

• Income is the total amount of money that an individual in a household receives. If an individual has a low income they are most likely to suffer ill health and reduced opportunities that can affect personal development.
• A lack of income may mean a lack of resources and not being able to live in an acceptable way of society, this can include clothes, food etc.

The Impact of low income

Employment status

Education

Lifestyle

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Key Terms to Remember

• Absoloute poverty- without the means to pay for essential resources.