Poverty benefits the nonpoor in society by keeping prices down.

Question

Quizplus · Accepted Answer

When people are poor, they cannot afford to buy goods and services at higher prices, so businesses have to keep prices low to attract customers. This benefits not only the poor but also the nonpoor who can purchase the same goods and services at a lower price. Additionally, poverty can create a larger pool of available labor, which can drive down wages and production costs, leading to lower prices for goods and services.

Poverty Benefits the Nonpoor in Society by Keeping Prices Down