Absolute poverty

Definition

Absolute poverty is a condition where an individual or family lacks the essential resources to meet basic life needs such as food, clothing, and shelter. It is measured by comparing personal or household income against a pre-determined threshold considered necessary to maintain minimal standards of living.

Related terms

Poverty Threshold: The minimum level of income deemed adequate in a particular country to sustain basic living expenses.

Basic Needs: Fundamental requirements including food, clean water, shelter, education, and healthcare necessary for maintaining human life.

Bretton Woods Institutions: Financial organizations established post-World War II (the IMF and World Bank) aimed at promoting international economic cooperation and stability