Which one of the following is true for the demand side vicious circle of poverty ?
1
Low income → Low demand → Low investment → Capital deficiency → Low
productivity → Low income
productivity → Low income
2
Low productivity → Low income → Low savings → Low investment → Capital
deficiency
deficiency
3
Low income → Low investment → Low demand → Low Capital deficiency
4
Low demand → Low saving → Low productivity → Low investment → Capital
deficiency
deficiency