Types of Poverty
There are two major kinds of Poverty, that are:
1. Cyclic Poverty
It refers to poverty that can be widespread throughout the population, but its occurrence is of limited duration. In non-industrialized countries, the inability to meet basic needs rests mainly on temporary food shortages caused by natural phenomena. Prices can be hiked because of scarcities of food, which brought misery.
2. Collective Poverty
Collective poverty involves relative permanent insufficiency of means for secure basic needs. Both generalized and concentrated collective poverty can be transmitted from one generation to the next. Collective poverty usually is related to Economic inequality.
3. Concentrated Collective Poverty
In many developed industrial countries, particular demographic groups are more vulnerable to long-term poverty. Their chief economic traits include unemployment, underemployment, unskilled occupation, and job instability.
Check-out: Economic Inequality
What is Poverty? Meaning, Causes, Measures and FAQs
Poverty definition: When a person is unable to get the minimum necessities of life this situation is known as poverty. Poverty means that the income level from employment is so low or no employment that basic human needs are not met. Poverty-stricken people can go without proper housing, clean water, healthy food, and medical attention.
Progress has been made in measuring and analyzing poverty, the World Bank Organisation is working to identify other indicators and dimensions of poverty. This includes identifying social indicators to track education, health, access to services, social exclusion, and vulnerability.
Table of Content
- What is Poverty?
- Understanding Poverty
- Aspects of Poverty
- Types of Poverty
- Causes of Poverty
- How to reduce Poverty?
- Which Countries have Highest Poverty Rates?
- Latest Statistics and Research Findings on Poverty
- Real-World Case Studies: Illustrating the Impact of Poverty