Meaning and Measurement of Poverty

This extract explains what poverty means and how it is measured using single indicators like the international poverty line and minimum income standards. It distinguishes absolute poverty, focused on survival needs, from relative poverty, defined against a country’s average living standard. The text outlines major consequences of poverty and summarizes several influential definitions by economists and international organizations. It also discusses practical challenges in setting poverty lines and introduces the Minimum Income Standard as a research-based approach used for policies like the Living Wage.