Final answer:
Poverty can be seen as subjective, as individual perceptions and societal norms heavily influence what is considered 'poverty'. Notions of poverty vary across cultures and are shaped by relative, absolute, and subjective standards.
Step-by-step explanation:
The question of whether poverty is in the eye of the beholder can be addressed by looking into the concept of subjective poverty. This concept suggests that poverty is not just an objective state, but also a relative and perceptual issue.
A person might experience subjective poverty if their income does not align with their expectations and societal norms. For instance, a family living on a modest income in Nepal may consider themselves well-off according to local standards, while a visitor from a Western country might view them as living in severe need.
Different perceptions of poverty often depend on cultural contexts and individual experiences. When observing a homeless person, our reaction might vary depending on whether they appear content or are actively begging. This response is influenced by our own experiences and the societal standards we are accustomed to.
Global definitions of poverty, such as relative poverty, absolute poverty, and subjective poverty, highlight the importance of context when considering economic conditions. Each type of poverty indicates different aspects of deprivation and its impact on individuals and societies.