Question

Define poverty and explain its two main forms

Answer 1

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Poverty is an economic state where people are experiencing scarcity or the lack of certain commodities that are required for the lives of human beings like money and material things. 


Two main forms :

Situational and Generational


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Answer 2

Explanation:

There are two main classifications of poverty:

• Absolute poverty – is a condition where household income is below a necessary level to maintain basic living standards (food, shelter, housing). This condition makes it possible to compare between different countries and also over time.
• Relative poverty – A condition where household income is a certain percentage below median incomes. For example, the threshold for relative poverty could be set at 50% of median incomes (or 60%)

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