Question

if a new poverty measure were calculated to include wealth (total debts subtracted from total assets), that new poverty measure would reflect the fact that

Answer 1

If a new poverty measure were calculated to include wealth (total debts subtracted from total assets), that new poverty measure would reflect the fact that since the definition of poverty includes both wealth and income, it has taken on a two-dimensional form, meaning that different people with the same level of wealth may have different poverty levels. Similar to this, individuals with the same income level may have various levels of poverty.

Access to clean water, food, shelter, and clothing are examples of basic needs that can be used to gauge one's level of poverty. It has been proven that people can earn enough money to cover their basic needs but still spend it poorly.

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