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Questions and Answers
Poverty is a state in which someone lacks the financial resources and essentials for a certain standard of living.
Poverty is a state in which someone lacks the financial resources and essentials for a certain standard of living.
True (A)
Relative poverty compares a person's income against the amount needed to meet basic personal needs.
Relative poverty compares a person's income against the amount needed to meet basic personal needs.
False (B)
Most of the world's population lives on less than $10 per day as of 2019.
Most of the world's population lives on less than $10 per day as of 2019.
True (A)
Over 50% of the world's population lives on less than $30 per day as of 2019.
Over 50% of the world's population lives on less than $30 per day as of 2019.
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The poorest citizens of middle-income countries always gain an adequate share of their countries' increased wealth to leave poverty.
The poorest citizens of middle-income countries always gain an adequate share of their countries' increased wealth to leave poverty.
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Study Notes
Definition of Poverty
- Poverty is a lack of financial resources and essentials for a certain standard of living.
Causes and Effects of Poverty
- Poverty has diverse environmental, legal, social, economic, and political causes and effects.
Measures of Poverty
- Absolute poverty: compares income against the amount needed to meet basic personal needs (food, clothing, shelter).
- Relative poverty: when a person cannot meet a minimum level of living standards compared to others in the same time and place.
Poverty Statistics
- As of 2019, 85% of people live on less than $30 per day in PPP dollars.
- Two-thirds of the population live on less than $10 per day.
- 10% of the population live on less than $1.90 per day.
Poverty and Economic Development
- Even in economically developing countries, the poorest citizens often do not benefit from increased wealth.
Poverty Alleviation
- Governments and NGOs have experimented with policies and programs, such as:
- Electrification in rural areas
- Housing first policies in urban areas
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