Asked by Santos Espinoza on May 15, 2024
Verified
Karim was laid off from his job.He struggled financially for six months until he found another full-time job.As a result, Karim had to sell his house and rent a small apartment.What type of poverty did Karim experience?
A) absolute poverty
B) transitional poverty
C) intergenerational poverty
D) relative poverty
Transitional Poverty
A temporary state of economic hardship experienced by individuals or families as they attempt to move from one socioeconomic status to another.
Laid Off
The termination of employment due to the employer's decision, often because of budget cuts or company downsizing, not because of the employee's personal performance.
Financial Struggle
The challenge of managing one's finances, often due to insufficient income, debt, or unexpected expenses.
- Acquire knowledge about the different kinds of poverty and what causes them.
Verified Answer
AV
Agustin VelascoMay 16, 2024
Final Answer :
B
Explanation :
Karim experienced transitional poverty, which refers to a temporary period of financial hardship due to a specific event, such as job loss. This is different from absolute poverty, which is a chronic condition of deprivation, intergenerational poverty, which refers to poverty that is passed down from generation to generation, or relative poverty, which is based on comparing one's income or standard of living to that of others in society.
Learning Objectives
- Acquire knowledge about the different kinds of poverty and what causes them.