Income deficit is the difference between a single person or family's income and its poverty threshold or poverty line, when the former is exceeded by the latter. Data on the income deficits of various members of a population allow for the construction of one type of measurement of income ...
A household is said to be in fuel poverty when its members cannot afford to keep adequately warm at reasonable cost, given their income. The term is mainly used in the UK, Ireland and New Zealand, although discussions on fuel poverty are increasing across Europe, and the concept also applies ...
Diseases of poverty is a term sometimes used to collectively describe diseases, disabilities, and health conditions that are more prevalent among the poor than among wealthier people. In many cases poverty is considered the leading risk factor or determinant for such diseases, and in some cases the ...
In economics, the cycle of poverty is the "set of factors or events by which poverty, once started, is likely to continue unless there is outside intervention." The cycle of poverty has been defined as a phenomenon where poor families become trapped in poverty for at least three ...
Simple living encompasses a number of different voluntary practices to simplify one's lifestyle. These may include reducing one's possessions or increasing self-sufficiency, for example. Simple living may be characterized by individuals being satisfied with what they need rather than want. ...
Microcredit is the extension of very small loans (microloans) to impoverished borrowers who typically lack collateral, steady employment and a verifiable credit history. It is designed not only to support entrepreneurship and alleviate poverty, but also in many cases to empower women and uplift ...
Economic freedom or economic liberty or right to economic liberty denotes the ability of members of a society to undertake economic direction and actions. This is a term used in economic and policy debates as well as a politicoeconomic philosophy. As with freedom generally, there are various ...
Guaranteed minimum income (GMI) (also called minimum income) is a system of social welfare provision that guarantees that all citizens or families have an income sufficient to live on, provided they meet certain conditions. Eligibility is typically determined by citizenship, a means test, and ...
