Sociology.com: Poverty

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Poverty

Definition:
Generally, Poverty means a significant lack of money or poorness. Some definition is to be given below that help to better understand poverty.

Poverty consists of a core of basic necessities as well as a list of other necessities that change over time and place (George,1988).

Baratz and Grigsby refer to poverty “as a severe lack of physical and mental well-being, closely associated with   inadequate economic resources and consumption.”

Deleeck et al. write: Poverty is not restricted to one dimension, e.g. income, but it manifests itself in all domains of life, such as housing, education, and health.

Characteristics of Poverty

1.    No fulfilling basic needs.
2.    It changes over time and place.
3.    Lack of physical and mental well-being.
4.    It is not restricted to one dimension.
 
So from the above definition, my point of view is that Poverty is a condition in which people lack what they need to live.