Absolute+and+Relative+Poverty

=**__//Word Definitions//__**=

Absoloute poverty: When a persons income is below a level of annual income.

Relative poverty: When a person has an annual income that is far below that of other people- for example statistics that say how many people earn less than £20,000 a year.

LEDC: Less economically developed country examples are Mozambique and Somalia

MEDC: More economically developed country examples are Britain and America

Third world: This term is being used less and less in modern society, however when it is used it refers to LEDC's in a much more general sense, it refers to every LEDC in the world.