Poverty Defined:

Poverty is often defined in terms of income levels of a set of population. The income criteria are preferred as an indicator of poverty as it is easy to establish the income earned by a person or a household. A number of  other indicators can  be  added  to these  measurements based  on  their  money  value  to  arrive  at a  comprehensive measurement  of  poverty.  Money values denote objective standards of poverty measurement. Let us look into some poverty concepts available in the literature. Poverty refers to different forms of deprivation that can be expressed in a variety of terms (i.e., income, basic needs, and human capabilities).