In One to Two Sentences,explain How the Official Definition of Poverty

question 11

Essay

In one to two sentences,explain how the official definition of poverty is calculated.Based on what you read in the text,what are some of the problems with this way of calculating poverty today?

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Definitions:

Development Costs

These are the expenses associated with the research and development of new products or services, often considered in the valuation of a company.

Removable Ore

Ore that can be extracted and processed from a mine site for a profit.

Original Condition

The state of an asset or item as it was initially acquired or received, before any modifications, repairs, or restoration.

Impairment Loss

The amount by which the carrying amount of an asset exceeds its recoverable amount, leading to a decrease in the asset's value on the financial statements.