key term - Absolute poverty

Definition

Absolute poverty is a condition where an individual or family lacks the essential resources to meet basic life necessities such as food, clothing, and shelter. It is measured by a fixed poverty threshold that is consistent across different countries and over time.

Related terms

Poverty Threshold: The minimum level of income deemed necessary to achieve an adequate standard of living in a given country.

Social Stratification:

The ranking of individuals and groups in any given society based on wealth, income, race, education, and power.

Economic Inequality: The unequal distribution of income and opportunity between different groups within society