what is the method to measure poverty class 9
Answers
Answer:
A common method used to measure poverty is based on 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.
Explanation:
Hope this answer helps you!
Answer:
hey mate, here is your answer
A fundamental part of measuring poverty is a comparison between a household’s income and the cost of basic necessities. The comparison has three components:
The first component of the OPM — poverty thresholds — is a calculation of the cost of a household’s basic needs. Those needs were initially defined in the early 1960s as being three times what an average family spent on food, according to the 1955 Household Food Consumption Survey. Currently there are 48 thresholds, which vary by family size and family composition, but not by geography. The methodology for the calculation has not changed since it was introduced, but instead has been updated each year for inflation. In 2018, the poverty threshold for a single person under the age of 65 was $13,064.
The second component involves measuring pre-tax cash income. Such income comes from sources like wages, unemployment and worker’s compensation, Social Security and Supplemental Security Income, child support, interest, and dividends. Non-cash benefits such as those from the Supplemental Nutrition Assistance Program are not included. The methodology for calculating the income component also has not changed since the 1960s.
A third component of the OPM is inflation — the increase in the prices of goods and services. This number is used to adjust the thresholds each year; it can be measured in various ways and is currently being reviewed by the Trump administration. The adjustment currently being used is based on the consumer price index for urban consumers (CPI-U).
*please mark me as brainlist*