ECONOMIC DEVELOPMENT

1. How can the young generation help in poverty alleviation? (Be specific with your answer.)
2. Define and describe each time below:
a. absolute poverty
b. relative poverty
c. extreme poverty
3. How is the population related to the national income in terms of the following:
a. income inequality
b. perfect equality
c. income distribution
4. If you were elected as president of the country, what are the five key areas that you will
prioritize with specific projects and programs in poverty eradication? How long do you think we
can achieve zero poverty incidence? Why?
ANSWER:

1. As a member of the young generation, I strongly believe that we have the power to make a
significant impact on poverty alleviation. While poverty is a complex issue that requires
systemic change, there are several ways in which we can contribute to addressing this
pressing social issue. We can make a change by leveraging our digital literacy, volunteering
our time and resources, advocating for policies and programs, and supporting local
businesses and entrepreneurs, we can contribute to addressing this pressing social issue. It's
time for us to take action and make a difference in our communities and beyond.

2. a. Absolute poverty - refers to a condition where individuals or households do not have

sufficient resources to meet their basic physiological and safety needs. This includes lack of
access to adequate food, clean water, shelter, and healthcare.
b. Relative poverty - is a concept that compares an individual's or household's income or
resources to the average or median income in a particular society or country. It refers to a
situation where individuals or households fall below a certain threshold of the median
income, which may vary from country to country.
c. Extreme poverty - is a more severe form of absolute poverty, where individuals or
households lack access to basic needs and are at risk of severe deprivation and harm. This
includes living in extreme poverty and hunger, lacking access to education, healthcare, and
other essential services, and being vulnerable to exploitation, violence, and other forms of
harm.

3. a. Income inequality: The population is related to national income in terms of income

inequality by the uneven distribution of the total income among individuals or households in
 a society. When income inequality exists, a small percentage of the population holds a large
portion of the national income, while the majority of the population has access to a smaller
share. This disparity in income distribution can lead to social and economic issues, such as
poverty, social unrest, and decreased economic growth.

b. Perfect equality: In a scenario of perfect equality, the population and national income
would be evenly distributed among all individuals or households in society. This means that
each person would receive an equal share of the total national income, resulting in no
income inequality. Perfect equality is often considered an ideal or theoretical concept that
aims to achieve a fair and just distribution of resources across the population.

c. Income distribution: The population is related to national income in terms of income

distribution by how the total income generated within a country is allocated among its
residents. Income distribution refers to the way that earnings, wages, profits, and other
sources of income are divided among individuals or households. A more equitable income
distribution means that a larger proportion of the population has access to resources and
financial stability, while an unequal income distribution can result in disparities in wealth,
opportunities, and living standards among different segments of the population.

4. If I were to be elected as the president of the country, I would prioritize poverty eradication
as a key area of focus to create a more inclusive and equitable society for all. Here are the
five key areas that I would prioritize with specific projects and programs to tackle poverty:

1. Education and Skills Development:

One of the most effective ways to break the cycle of poverty is through education and skills
development. I would implement programs to provide access to quality education for all children,
including scholarships, school feeding programs, and vocational training initiatives. By ensuring that all
young people have access to education and training, we can empower them to secure better job
opportunities and improve their economic prospects.

2. Economic Empowerment and Job Creation:

To provide sustainable solutions to poverty, I would prioritize initiatives that promote economic
empowerment and job creation, especially for marginalized communities and vulnerable groups. This
could include microfinance programs, entrepreneurship training, and support for small businesses. By
creating more employment opportunities and empowering individuals to start their businesses, we can
help alleviate poverty and improve livelihoods.

3. Social Protection and Healthcare:

Access to healthcare and social protection is essential to ensuring that individuals and families can meet
their basic needs and protect themselves from falling into poverty. I would implement programs to
provide universal healthcare coverage, social safety nets, and support for vulnerable populations, such
as the elderly, persons with disabilities, and single parents. By investing in social protection and
healthcare, we can reduce the risk of households falling into poverty due to unexpected health expenses
or other crises.
4. Infrastructure Development:

Investing in infrastructure, such as roads, bridges, water and sanitation systems, and energy networks, is
crucial for promoting economic growth and improving living conditions for communities in poverty. I
would prioritize infrastructure development projects in rural and marginalized areas to enhance access
to markets, education, healthcare, and other essential services. By improving infrastructure, we can
create more opportunities for economic development and improve the quality of life for people living in
poverty.

5. Empowering Women and Youth:

Empowering women and youth is key to addressing poverty and promoting sustainable development. I
would implement programs to promote gender equality, provide access to reproductive health services,
and support women and youth entrepreneurship. By empowering women and youth to participate fully
in the economy and society, we can unlock their potential as agents of change and drive progress
towards poverty eradication.

Achieving zero poverty incidence is a challenging but achievable goal that requires long-term
commitment, collaboration, and sustainable development strategies. While it may take several decades
to completely eradicate poverty, we can make significant progress by investing in education, economic
empowerment, social protection, infrastructure development, and empowering women and youth. By
working together as a united and determined nation, we can create a future where every individual has
the opportunity to thrive and fulfill their potential, free from the constraints of poverty.