Definition
Technically the minimal income one needs to cover the basic necessities of a healthy life: fuel, food, clothing, shelter and basic household and personal items. However some economists and other commentators tend to use the term to describe a different concept, Relative Poverty, whereby the line is set as a percentage of the country’s median income ( the OECD and the European Union use 60%), immaterial of how much it would fluctuate with the nation’s GDP.