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Summary Inequality and Poverty Essay
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Inequality and Poverty Essay for grade 10 Business studies.
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Introduction Contemporary social economic issues such as inequality and poverty, strikes and political
disturbances, violence crime and gambling and HIV/AIDS.
Businesses today can only grow and develop as successful enterprises if they take these
socio economic issues into consideration
Inequality and poverty
Inequality is an unfair situation in which some groups in society have more money,
opportunities and power than others.
Poverty includes those people who live below the poverty line of two dollars a day.
Poverty affects business enterprises because poor people do not have the money to spend
on goods and services.
Strikes and political disturbances
A strike is collective action taken by a group of unhappy employees to force the employer to
accept their demands. These actions may be in the form of a go slow slick out or a sympathy
strike.
A political disturbance also called a riot or public disorder is when people take to the streets
to demonstrate their anger and frustration. Political disturbances have a negative effect on
the economy.
Violence crime and gambling
Violence is a way in which individuals express physical or verbal force upon themselves or
other people. The centre for study of violence and reconciliation recognises different types
of violence, including: gender violence, school bullying, gun violence, farm attacks and
killings and people taking the law into their own hands vigilantism
Workplace violence unclouded physical assault verbal abuse and intimidation.
Crime is regarded as an offence against the public or the state. The different types of crime
include economic crime domestic crime and white Coll’s crime
Gambling or betting is a behaviour which involves risking money or valuables on the
outcome of a game contest or other event of chance
HIV/ aids
AIDS which stands for acquired immune deficiency syndrome is a disease caused by HIV the
human immunodeficiency virus
The impact of HIV/ AIDS on employees is immense and includes the high costs of funding
recruiting and training replacement employees and paying benefits such as housing
subsidies medical care funeral care and pension funds.
Conclusion
Owners and managers need to be able to deal with the impact of socio economic issues on their
businesses.
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