Economics

Poverty : It is the situation in which person is unable to get minimum basic necessities of life i.e., food, clothing and shelter for his or her sustenance.
Mass Poverty : When a large section of people in an economy are deprived of these basic necessities, that economy is said to be in mass poverty.
Poverty is used in two ways.
1. Relative poverty 2. Absolute poverty
1. Relative poverty : Under relative poverty the economic condition of different regions, or condition of different regions , or countries is compared.
Two indicators of Relative Poverty are
1. Per capita Income 2. National Income
According to a report submitted by UNO those countries are treated as per whose poor capita income is less than US $ 725 per annum.
2. Absolute poverty : It refers to the measure of poverty keeping in view the per capita intake of calories and minimum level of consumption.

National Income : It is the total value of goods and services produced with in the country plus net income from abroad.> Poverty : It is the situation in which person is unable to get minimum basic necessities of life i.e., food, clothing and shelter for his or her sustenance.
Mass Poverty : When a large section of people in an economy are deprived of these basic necessities, that economy is said to be in mass poverty.
Poverty is used in two ways.
1. Relative poverty 2. Absolute poverty
1. Relative poverty : Under relative poverty the economic condition of different regions, or condition of different regions , or countries is compared.
Two indicators of Relative Poverty are
1. Per capita Income 2. National Income
According to a report submitted by UNO those countries are treated as per whose poor capita income is less than US $ 725 per annum.
2. Absolute poverty : It refers to the measure of poverty keeping in view the per capita intake of calories and minimum level of consumption.
Per Capital Income =
National Income : It is the total value of goods and services produced with in the country plus net income from abroad.