Economics

Absolute Poverty

Published Dec 23, 2022

Definition of Absolute Poverty

Absolute poverty is defined as a state of extreme deprivation in which people lack the basic necessities of life, such as food, shelter, and clothing. That means it is a measure of poverty that is based on the absolute minimum amount of resources needed to survive.

Example

To illustrate this, let’s look at a family of four living in a rural area of a developing country. The family has no access to clean water, electricity, or medical care. They live in a small hut with a dirt floor and no windows. The only food they have is what they can grow in their small garden. They have no money to buy clothes or other necessities. In this case, the family is considered to be living in absolute poverty.

Why Absolute Poverty Matters

Absolute poverty is a major issue in many parts of the world. It is estimated that more than 1 billion people are living in absolute poverty, and the number is growing. This is a major concern for governments and international organizations, as it can lead to a variety of social and economic problems. For example, people living in absolute poverty are more likely to suffer from malnutrition, disease, and lack of education. This can lead to a cycle of poverty that is difficult to break.

That’s why it is important to understand the causes of absolute poverty and to develop strategies to reduce it. This includes providing access to basic necessities, such as food, clean water, and medical care, as well as investing in education and job training. By doing so, we can help to reduce the number of people living in absolute poverty and create a more equitable and prosperous world.

Important Disclaimer: This definition was written by Quickbot, our artificial intelligence model trained to answer basic questions about economics. While the bot provides adequate and factually correct explanations in most cases, additional fact-checking is required. Use at your own risk.