ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Poverty means that a person doesn’t make enough money from their job to meet their basic needs. People and families who are poor may not have a good place to live, clean water, healthy food, or medical care. Each country can use its own set of rules to figure out how many people are poor.

Detailed explanation-2: -Poverty is about not having enough money to meet basic needs including food, clothing and shelter. However, poverty is more, much more than just not having enough money. The World Bank Organization describes poverty in this way: “Poverty is hunger. Poverty is lack of shelter.

Detailed explanation-3: -"Poverty is hunger. Poverty is lack of shelter. Poverty is being sick and not being able to see a doctor. Poverty is not having access to school and not knowing how to read. Poverty is not having a job, is fear for the future, living one day at a time.

Detailed explanation-4: -People living below a poverty line don’t have enough to meet their basic needs. Countries typically define national poverty lines, and we use the lines of a group of the poorest countries to define the international extreme poverty line of $1.90 per day.

Detailed explanation-5: -Absolute poverty (also called extreme poverty) is the lack of sufficient resources to secure basic life necessities, including amongst others safe drinking water, food, or sanitation.