It is always difficult to define the one and only measure of poverty, as there are different concepts of poverty based on a number of welfare indicators. The paper discuses main approaches to individual welfare measurement. A measure of individual welfare in the concept of relative deprivation...

Economic growth together with gross domestic product increase - have been considered as principal criteria of countries´ welfare. Contemporary era witnesses profound changes within countries and their population. These have been reflected in impacts on evaluating wealth, happiness and content...