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Q.

When an individual's income falls below a given minimum level necessary to fulfil basic needs, then that individual is considered ____.


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Detailed Solution

When an individual's income falls below a given minimum level necessary to fulfil basic needs, that individual is considered poor. Based on income or consumption level, one approach to measuring poverty is that a person is deemed poor if their income or consumption is below a predetermined "minimum level" required to meet their basic requirements. Depending on the period and the country, different things are required to provide necessities. So, the definition of poverty may change with time and place. Each nation utilises a fictitious line that is thought acceptable for its current state of development and the bare minimum of social standards within it. All economies have fixed their poverty lines regarding calorie requirements, income, or expense, and those who fall below that line are termed poor.
 
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