The poverty trap refers to a situation where individuals or families are unable to escape poverty due to various factors such as low wages, lack of education, limited access to resources, or systemic barriers.
Related terms
Cycle of Poverty: A phenomenon where poverty is passed down from generation to generation due to limited opportunities and resources.
Social Safety Net: Programs designed by governments or organizations that provide assistance (such as welfare benefits) to individuals facing financial hardship.
Income Inequality: The unequal distribution of income among different groups within society.