The causes of poverty lie in the institutional and social factors that mark the life of the poor. The poor are deprived of quality education and unable to acquire skills which fetch better incomes. Also access to health care is denied to the poor. The main victims of caste, religious and other discriminatory practices are poor. These can be caused as a result of (i) social, economic and political inequality (ii) social exclusion (iii) unemployment (iv) indebtedness (v) unequal distribution of wealth. Aggregate poverty is just the sum of individual poverty. Poverty is also explained by general, economy-wide problems, such as low capital formation,  lack of infrastructure, lack of demand, pressure of population (v) lack of social/ welfare nets.

Who among the following is a Nobel Laureate?

Amartya Sen

The correct answer is option 4: Amartya Sen

Amartya Sen is an Indian economist who was awarded the Nobel Memorial Prize in Economic Sciences in 1998 for his contributions to welfare economics.  Amartya Sen has developed an index known as Sen Index to measure poverty.