Economic characteristics of high-, middle- and low-income countries

Question 1

What is poverty?

Answer 1

the lack of access to resources, often as the result of a lack of access to money

Question 2

Economic characteristics in high income- countries?

Answer 2

• lower levels of poverty
• higher average incomes for a working individual
• lower levels of poverty
• higher global trade opportunities
• lower levels of debt is owed
• higher levels of welfare support
• higher levels of industrilisation

Question 3

Economic characteristics in middle (lesser extent) & low income- countries?

Answer 3

• higher levels of poverty
• lower average incomes for a working individual
• lower global trade opportunities
• higher levels of debt is owed
• lower levels of welfare support
• lower levels of industrilisation