Final answer:
Poverty involves a lack of resources at a disturbing level and includes relative, absolute, and subjective poverty, with significant implications on health, crime rates, and social stability.
Step-by-step explanation:
Poverty is based on lacking resources to a disturbing level. When discussing poverty, it is important to understand the different types: relative poverty refers to the inability to live the lifestyle of the average person in the country, while absolute poverty involves not having the basic necessities such as food and shelter. Subjective poverty is based on an individual's perceptions and expectations of their income relative to their needs. All forms of poverty are concerning, as they can lead to negative consequences such as deteriorating mental and physical health, a prevalence in crime, and overall social unrest.
It is difficult to reverse the state of poverty due to complex factors including the availability of resources, the functioning of labor markets, and wage disparities stemming from supply and demand. Poverty trap is a situation where the poor cannot escape poverty due to lack of resources to invest in opportunities that could improve their situation. Measures of poverty, such as living on less than 1.90 U.S dollars per day, help us understand the scale of the issue on a global level.