Question

In: Economics

1. What is work? Why do we work? And, why would someone quit a well-paying job?...

1. What is work? Why do we work? And, why would someone quit a well-paying job?

2. The work you do, what does it reveal about you?

3. When someone, asks you the question, what do you do, which information is this person seeking? And, why?

4. Do you think that poverty serves any function in society? If yes, what are they? Who benefits from poverty, and what mechanisms are created to sustain

it, and why?

5. Do you think that poverty and hunger can ever be conquered, and should or should not the developed nations be obligated to help the underdeveloped and

developing nations? Why? Why not? Support your position with adequate Evidence.

6. Who in your view should be blamed for poverty? Explain. And, Will poverty ever end? What strategies and solutions can you provide towards eliminating or

ending poverty, locally and globally?

Solutions

Expert Solution

1). Works refers to the actions or labor done by individuals.

Work is done inorder to meet the needs and survive in the the earth.

Many of the people quit their well paying jobs inorder to attain freedom in their life. Some quit inorder to find out new career paths inorder to find a job which can fulfill their mind.

2). Iam working as an engineer in a private company. It reveals my social status and dignity. It also make me an independent individual who can live in the society without depending on the earnings of my parents.

3). By asking that, they really want to know our current education or job status.

Now one individual can't live in the society without acquiring a proper education or job. So education or job has a highly importance in everyone's life.

4). Yes, poverty serves many functions in the society. They are :

  • It promotes the low wage jobs and thus the dirty works and domestic works in the society will be get done.
  • Poverty helps in the reusing and recycling of commodities within the economy.
  • It also promotes more cultural contributions in the society.

The poverty can be controlled by increasing more employment opportunities, strengthening the existing policies like cas assurance, food stamps, unemployment insurance etc. Also by investing more on child care policies and paying more amily and sick leaves for the employers.

5). Yes, poverty and hunger can be conquered using several measures such as creating more job opportunities, raising the minimum wage of the workers, redistribution of income between the rich and poor, providing equal payment for all genders and investing more on child care and educational policies.

There is no law which stating that the developed nations should help developing or underdeveloped nation. But it is the responsibility of developed nations to help them. The developed nations can invest in the education sectors, health care sectors and schools in the other nations to help them. It is also benefit for the developed nations in investing in the other nations to promote the international trade and service. The example for the above statement is the approach of Bhutan's gross national happiness.

6). An average of the half of the total men and two third of the total women are responsible for the poverty. It is also due to new trends in the economy. It is also due to unemployment, illiteracy, large population, pandemic spread of any disease such as covid-19, environmental problems or natural disasters etc..

It is not possible to eliminate poverty completely.

The strategies or solutions inorder to eliminate the poverty issues are :

  • By creating more job opportunities.
  • By rising the minimum wage of the workers.
  • By providing equal payment of wages to all the genders.
  • By rising the income taxes of the workers having no childs.
  • By establishing proper work schedules for the employees.

Thanks !..


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