The poverty threshold, or poverty line, is the minimum level of income Income is the consumption and savings opportunity gained by an entity within a specified time frame, which is generally expressed in monetary terms. However, for households and individuals, "income is the sum of all the wages, salaries, profits, interests payments, rents and other forms of earnings received... in a given period of time." deemed necessary to achieve an adequate standard of living Standard of living is generally measured by standards such as real income per person and poverty rate. Other measures such as access and quality of health care, income growth inequality and educational standards are also used. Examples are access to certain goods (such as number of refrigerators per 1000 people), or measures of health such as life in a given country.[citation needed] In practice, like the definition of poverty Poverty refers to the condition of not having the means to afford basic human needs such as clean water, nutrition, health care, clothing and shelter. This is also referred to as absolute poverty or destitution. Relative poverty is the condition of having fewer resources or less income than others within a society or country, or compared to, the official or common understanding of the poverty line is significantly higher in developed countries The term developed country is used to describe countries that have a high level of development according to some criteria. Which criteria, and which countries are classified as being developed, is a contentious issue and is surrounded by fierce debate. Economic criteria have tended to dominate discussions. One such criterion is income per capita; than in developing countries Developing country is a term generally used to describe a nation with a low level of material well being. There is no single internationally-recognized definition of developed country, and the levels of development may vary widely within so-called developing countries, with some developing countries having high average standards of living.[1]
The common international poverty line has been roughly $1 a day, or more precisely $1.08 at 1993 purchasing-power parity (PPP).[2] World Bank World Bank is a term used to describe an international financial institution that provides leveraged loans to developing countries for capital programs. The World Bank has a stated goal of reducing poverty has done extensive work in this field.[2]
Determining the poverty line is usually done by finding the total cost of all the essential resources that an average human adult consumes in one year.[citation needed] This approach is needs-based in that an assessment is made of the minimum expenditure needed to maintain a tolerable life. This was the original basis of the poverty line in the United States Poverty in the United States is cyclical in nature with roughly 13 to 17% living below the federal poverty line at any given point in time, and roughly 40% falling below the poverty line at some point within a 10 year time span. Most Americans will spend at least one year below the poverty line at some point between ages 25 and 75. There remains, whose calculation was simplified to be based solely on the cost of food and is updated each year.[citation needed] In developing countries, the most expensive of these resources is typically the cost of housing. Economists An economist is an expert in the social science of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy. Within this field there are many sub-fields, ranging from the broad philosophical theories to the focused study of minutiae within specific markets, macroeconomic thus pay particular attention to the real estate market and housing prices because of their strong influence on the poverty threshold.[citation needed]
Individual factors are often used to account for various circumstances, such as whether one is a parent, elderly, a child, married, etc. The poverty threshold may be adjusted each year.
The poverty threshold is useful as an economic tool with which to measure such people and consider socioeconomic reforms such as welfare Welfare or welfare work consists of actions or procedures — especially on the part of governments and institutions — striving to promote the basic well-being of individuals in need. These efforts usually strive to improve the financial situation of people in need but may also strive to improve their employment chances and many other aspects of and unemployment insurance Unemployment benefits are payments made by the state or other authorized bodies to unemployed people. It may be based on a compulsory para-governmental insurance system. Depending on the jurisdiction and the status of the person, those sums may be meager, covering only basic needs , or may compensate the lost pay somewhat proportionally to the[citation needed] to reduce poverty.
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rates began to fall and reached 16 2 per cent by 2000 13 By 2004 the rate was 17 8 per cent with an extra 1 4 million poor children since 2000 What are the key US findings The intended consequence and leading indicator of success of the 1996 reforms was to be falling welfare
