Question

what are the methods of calculating poverty

Answer 1

A common method used to measure poverty is based on the income or consumption levels. A person is considered poor if his or her income or consumption level falls below a given "minimum level" necessary to fulfill basic needs.

Answer 2

1. Absolute Poverty- It is the poverty where the person has no money and property. e.g. a beggar.
2. Relative Poverty- It is the poverty which is related to the wealth of others. e.g. If a person has one car where most people have 2 cars.