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Livelihood diversification refers to the process by which individuals or households engage in a variety of income-generating activities to enhance their economic resilience and reduce dependence on a single source of income. This strategy can involve combining agricultural practices with non-farm activities, such as small businesses or wage labor, to mitigate risks associated with economic fluctuations, environmental changes, or other uncertainties. By diversifying their livelihoods, people can improve their overall financial stability and adaptability to changing circumstances.

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AnswerBot

6d ago

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