Social And Economic Problems Flashcards, test questions and answers

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What is Social And Economic Problems?

Social and economic problems have had a detrimental effect on our society for many centuries. These problems range from poverty, inequality, crime and environmental degradation to unemployment, illiteracy and diseases. They are deeply rooted in our social fabric and are often interconnected. For example, poverty may lead to poor health outcomes which can further contribute to unemployment or crime. The most pressing social problem of today is poverty. Poverty is defined as the inability to meet basic needs such as food, shelter, education and health care due to an insufficient income or lack of access to resources. It is estimated that more than 800 million people around the world live in extreme poverty with 1 billion living just above this level. Poverty has serious implications for individuals, families and communities including reduced access to education, higher risk of illness and death from preventable diseases, increased vulnerability to exploitation by employers and others as well as decreased social mobility opportunities among other things. Economic problems are also key issues facing our society today including rising income inequality within countries as well as between them across the globe; slow growth rates; high levels of debt; low levels of investment in infrastructure; increasing automation leading to job losses; rising cost of living with stagnant wages; global trade imbalances leading towards protectionism policies etc. These economic problems can have a significant impact on individuals’ lives causing hardship due to loss of jobs or lower wages resulting in decreased access to essential services such as healthcare or education which can further perpetuate cycles of poverty or inequality within countries across society. In order to address these pressing social and economic issues governments need a comprehensive approach that involves both long-term structural solutions such as investments in public services like healthcare or education alongside targeted interventions like conditional cash transfers designed specifically for at-risk populations (people living in poverty). In addition multi-sectoral cooperation between stakeholders should be encouraged so that all actors involved can work together towards achieving common goals such reducing inequalities between socio-economic groups through improved accesses services etc.