In today’s society everyone talks about poverty but everyone has a different perspective on what poverty really is. If there are as many ideas of what poverty is then we must draw some conclusions and properly define the word poverty. Poverty is a condition where people's basic needs for food, clothing, and shelter are not being met.
There are two main types of poverty, the first is absolute poverty, which is synonymous with destitution and occurs when people cannot obtain adequate resources to support a minimum level of physical health. Absolute poverty means about the same everywhere, and can be eradicated as demonstrated by some countries. The second type is relative poverty, which occurs when people do not enjoy a certain minimum level of living standards as determined by a government; this varies from country to country, sometimes within the same country.
Those were the main types but this issue is way more complex and there are several types more with more specific definitions. It is easy to understand absolute poverty, which basically is the extreme kind of poverty, involving the chronic lack of
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Poorer nations pay an average of $2.30 in debt service for every $1 received in grant aid. In addition, structural adjustment policies by organizations like the World Bank and the International Monetary Fund often require poorer nations to open their markets to outside business and investors, thereby increasing competition with local businesses and, many argue, undermining the potential development of local economies. In recent years, calls for debt reduction and forgiveness have been increasing, as activists see this too as a key means of reducing poverty. The United Nations has also made it a priority to examine how economic structural adjustment policies can be designed to place less pressure on vulnerable