The two standard ways of defining poverty thresholds are

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The two standard ways of defining poverty thresholds are "percentage of median income" and "basic needs." The first method considers individuals poor if their income is significantly below the median income of the population, often set at 50% or 60%. The "basic needs" approach calculates poverty based on whether individuals can afford essential goods and services, such as food, shelter, and healthcare.

The Two Standard Ways of Defining Poverty Thresholds Are