what is 'poverty line'?
Answers
Answer:
An estimated minimum level of income needed to secure necessities of life. In other words,a level of personal or family income which one is classified as poor according to governmental standards.
Answer:
The poverty threshold, poverty limit, poverty line or breadline,[1] is the minimum level of income deemed adequate in a particular country.[2] Poverty line is usually calculated by finding the total cost of all the essential resources that an average human adult consumes in one year.[3] The largest of these expenses is typically the rent required for accommodation, so historically, economists have paid particular attention to the real estate market and housing prices as a strong poverty line affect.[4] Individual factors are often used to account for various circumstances, such as whether one is a parent, elderly, a child, married, etc. The poverty threshold may be adjusted annually. In practice, like the definition of poverty, the official or common understanding the poverty line is significantly higher in developed countries than in developing countries.[5][6]
Graph of global population living on under 1, 1.25 and 2 equivalent of 2005 US dollars daily (red) and as a proportion of world population (blue) based on 1981–2008 World Bank data
Poverty Thresholds for 2013
In October 2015, the World Bank updated the International Poverty Line (IPL), a global absolute minimum, to $1.90 per day.[7] By this measure, the percentage of the global population living in absolute poverty fell from over 80% in 1800 to 10% by 2015, according to United Nations estimates, which found roughly 734 million people remained in absolute poverty.[8][9]
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