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1 month ago

Describe how poor people are able to earn a living using gambling and informal trade as a strategy

Social Studies

2 answers:

Anni [1.2K]1 month ago

6 0

Answer:

Explanation of how poor individuals utilize gambling and informal trade to earn a living:

A study indicated that individuals with lower incomes gamble more frequently compared to wealthier people. They often hope to quickly obtain significant money by gambling, viewing it as a fastest route to wealth. Some believe that spending time at a casino might help them earn some extra cash to stabilize finances and cover monthly expenses. These individuals seek quick solutions. However, gambling is a risky and generally poor solution for those in desperate situations.

Another approach involves informal trading, which consists of business activities without fixed locations or government oversight, including the absence of taxes and other charges. It requires minimal capital and is easy to start, often taking place on streets or public spaces. People experiencing poverty might use informal trading to increase earnings. This form of trade serves as an alternative to formal employment and represents a strategy for alleviating poverty and unemployment.

Learn more

Informal trading brainly.com/question/4757855

Government Programs to alleviate poverty brainly.com/question/4329525

About Poverty brainly.com/question/1419928

Keywords: poverty, informal trading, gambling

Anni [1.2K]1 month ago

4 0

Gambling offers the possibility of large rewards with a small initial investment but carries the greatest risk regarding returns.
While it may serve as a pathway out of poverty for some, the reliance on luck makes it unreliable.

Informal trade is generally more dependable than gambling, though it could sometimes operate outside legal or ethical boundaries.
Participants in informal trade often avoid paying taxes, thereby increasing their net profits.

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