How Is Poverty Usually Defined

question 56

Multiple Choice

How is poverty usually defined? 

• A) earning less than $100 per year 
• B) not being able to meet one's basic economic needs 
• C) eating an unbalanced diet 
• D) not being able to buy shoes

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Definitions:

Recurring Expense

Ongoing financial obligations that individuals or businesses regularly pay, such as rent, utilities, or subscription services.

Fixed Expense

Costs that do not change from period to period, such as rent or mortgage payments, providing predictability in budgeting.

Monthly Budget

A financial plan that allocates future personal income towards expenses, savings, and debt repayment.

Electric Bill

A monthly statement that accounts for the consumption of electricity and the cost associated with it.