Emily Dorsey
P306
9/7/2017
Chapter 3 Case Study: Poverty
According to the Business Dictionary, poverty is a “Condition where people’s basic needs
for food, clothing, and shelter are not being met.” Poverty can be classified into two types:
absolute poverty and relative poverty. Absolute poverty takes up about 25% in the world. As
stated on study.com, absolute poverty “refers to a condition where a person does not have the
minimum amount of income needed to meet the minimum requirements for one or more basic
living needs over an extended period of time.” Relative poverty exists among 40 million people
in the United States alone. As stated on study.com, relative poverty is “the condition in which
