Unit 3.4 · Economics of Inequality and Poverty
Meaning and Measurement of Poverty
AO2
Syllabus Requirement
Absolute vs relative poverty and the use of single (e.g. poverty lines) and composite indicators (e.g. MPI).
Assessment Objectives
AO2Application and Analysis
Summary
Poverty refers to the state where individuals or communities lack sufficient resources to meet basic human needs such as food, shelter, and healthcare. It is important to understand poverty's varying definitions and measurements, as these can differ significantly across different contexts and countries, impacting economic development and efficiency.