On the basis of social, economic and Political aspects, Poverty can be classified as follows:
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- Absolute poverty
- Also known as extreme poverty or abject poverty, it involves the scarcity of basic food, clean water, health, shelter, education and information.
- Those who belong to absolute poverty tend to struggle to live and experience a lot of child deaths from preventable diseases
- Absolute Poverty is usually uncommon in developed countries.
- It was first introduced in 1990, the “dollar a day” poverty line measured absolute poverty by the standards of the world’s poorest countries; which in 2015, was changed to $1.90 a day, by the World Bank.
- Also known as extreme poverty or abject poverty, it involves the scarcity of basic food, clean water, health, shelter, education and information.
- Absolute poverty
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- This number is controversial; therefore each nation has its own threshold for absolute poverty line.
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- Relative Poverty
- It is defined from the social perspective, that is living standard compared to the economic standards of population living in surroundings. Hence it is a measure of income inequality
- Usually, relative poverty is measured as the percentage of the population with income less than some fixed proportion of median income
- It is a widely used measure to ascertain poverty rates in wealthy developed nations.
- Situational Poverty
- It is a temporary type of poverty based on occurrence of an adverse event like environmental disaster, job loss and severe health problem
- People can help themselves even with a small assistance, as the poverty comes because of unfortunate event
- Generational Poverty
- It is handed over to individual and families from one generation to the one.
- This is more complicated, as there is no escape because the people are trapped in its cause and are unable to access the tools required to get out of it
- Rural Poverty
- This occurs in rural areas, where there are less job opportunities, less access to services, less support for disabilities and quality education opportunities
- People here tend to live mostly on farming and other menial work available in the surroundings.
- Urban Poverty
- The major challenges faced by the Urban people, because of Poverty include:
- Limited access to health and education
- Inadequate housing and services
- Violent and unhealthy environment because of overcrowding
- Little or no social protection mechanism.
- Relative Poverty