Poverty is defined as not having enough material possessions or income for a person's needs. It can be relative or absolute depending on whether it is measured against society's standard or basic human needs respectively.
If wealth were water in a bottle, poverty would be like having an empty or nearly empty bottle. You don't have enough to quench your thirst (meet basic needs), while others around you might have full bottles (adequate resources).
Income Inequality: The unequal distribution of household or individual income across the various participants in an economy.
Social Mobility: The ability of an individual or family to move up or down the social and economic ladder within a society.
Economic Development: A measure of a country's economic health and standard of living, it includes factors like literacy rates, life expectancy, and poverty rates.
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