What is poverty line?
Answers
Answer:
Poverty line is the level of income to meet the minimum living conditions. Poverty line is the amount of money needed for a person to meet his basic needs. It is defined as the money value of the goods and services needed to provide basic welfare to an individual.
Answer:
The poverty threshold, poverty limit or poverty line is the minimum level of income deemed adequate in a particular country.[1] Poverty line is usually calculated by finding the total cost of all the essential resources that an average human adult consumes in one year.[2] The largest of these expenses is typically the rent required to live in an apartment, so historically, economists have paid particular attention to the real estate market and housing prices as a strong poverty line affector.[citation needed] Individual factors are often used to account for various circumstances, such as whether one is a parent, elderly, a child, married, etc.[citation needed] The poverty threshold may be adjusted annually.