Poverty vs. The Economy Poverty is a lack of goods and services necessary to maintain a minimal adequate standard of living. The definition of the term adequate varies, however, with the general standard of living in a society and with public attitudes toward deprivation. No university accepted definition of basic needs exists because poverty is a relative concept. In poorer countries it means living at the brink of subsistence, while in our country few improvised families confront starvation, although many suffer from undernourishment. A key issue in the area of poverty is inequality. Inequality has been a problem in all societies. No society distributes income evenly. Despite all the conceptual and technical problems of measurement, the government has devised a widely cited poverty index that reflects the different consumption requirements....

Number Of Pages: 6

Number Of Words: 1505

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