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  Economics (NTSE/Olympiad)  

1. Poverty As Challange

Glossary - Poverty As Challange

1. Poverty : It is a state in which people do not have sufficient income to fullfill the basic necessities of life like food, clothing and shelter.
2. Absolute Poverty : It refers to the total number of people living below poverty line.
3. Relative poverty : It refers to poverty of people in relation to other people, regions or nations.
4. Poverty line : It is the level of income which divides the population as poor and non poor. It is drawn on the basis of minimum consumption expenditure.
5. International poverty line : It is defined by world bank as an income of less than $ 1 per day.
6. Social exclusion : It is the state of living in very poor condition and excluded from facilities, benefits and opportunities that other enjoys.
7. Vulnerability : It describe the level of poverty when people have a greater probability of being adversely affected than other people of the time of natural disasters.
8. Economic growth : It is the term which defines an increase in real output of a country.
9. Mass poverty : It is a situation in which a large section of people in economy are deprived of the basic necessities.

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