Problem of Poverty
What is poverty? (Definition)
• The international standard of extreme poverty is set to the possession of less than $1 a day.
• “Absolute poverty”measures poverty in relation to the amount of money necessary to meet human basic needs such as food, clothing, shelter and health.
• ”Relative poverty” defines poverty in relation to the economic status of other members of the society: people are poor if they fall below prevailing standards of living in a given societal context.