What does mean poverty line?

The U.S. Department of Health and Human Services defines the poverty line as an income that an individual needs to support their family’s basic needs. It is an annual income that is sufficient to prevent families from living in material deprivation (lack of necessities such as housing, transportation, medical care, and quality food).

What does poverty line mean in economics terms?

In a capitalist system, the poor are those who do not have access to sufficient resources to meet their basic needs. A basic need is something that is vital for sustaining a living. A commonly used poverty line is the minimum amount of money that an individual needs to meet his or her basic needs. A lower poverty line is typically used for family households, while an upper poverty line is used for an individual.

What mean poverty line in economics?

The poverty line is the amount of money an individual must earn to be below the poverty line for their specific location and time. A single parent with two children living in the United States would need to earn $15,400 a year to be considered below the poverty line. Poverty lines vary from country to country. For example, the poverty line for a single person living in South Africa is $3,271 per year while it’s $1,923 in Iran and $2,0

What does poverty line mean in economics?

The poverty line is a statistical measure of a family’s income level. It provides an upper limit for what people consider to be poor. If your household’s total annual income falls below the poverty line, you are officially considered poor. In terms of inflation, the poverty line in the U.S. is $11,157 for a single adult, $23,021 for a family of four.

What does mean poverty lines mean?

The poverty line is the amount of money an individual needs to make to live. The U.S. Census Bureau estimates that the poverty line for a family of four in 2017 is $24,339. The poverty line for an individual is $12,400.