Poverty and Economic Hardship
Definition
Poverty is a state where an individual or community lacks financial resources and access to basic necessities. Economic hardship refers to difficult economic conditions experienced by individuals or communities due to poverty.
Related terms
Absolute Poverty: This is when households earn below the necessary level to meet basic needs such as food, clothing, and shelter.
Relative Poverty: This is when households receive 50% less than average household incomes so they end up lacking in comparison with other residents who live around them even though they might manage basic needs.
Income Inequality: The unequal distribution of household or individual income across various participants in an economy.
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Study guides (1)
AP Human Geography - 2.11 Forced vs. Voluntary Migration
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Cram Mode
AP Score Calculators
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© 2024 Fiveable Inc. All rights reserved.
AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.