The document discusses key concepts related to the livelihoods approach. It defines a livelihood as comprising capabilities, assets (both material and social), and strategies. A sustainable livelihood is one that can withstand stresses and shocks while maintaining or enhancing capabilities and assets over time without damaging natural resources. Assets include human, financial, social, physical, and natural capital. Poor households employ various strategies to raise income or lower expenditures such as casual labor, scavenging, migration for work, and reducing spending on goods and services. The goals of livelihoods are more income, well-being, reduced vulnerability, food security, and sustainable resource use. It also briefly mentions the poverty/disability cycle.