Poverty refers to a lack of material possessions or money and can be defined as the state of being extremely poor or inferior in quality or amount. There are different types of poverty including relative poverty, situational poverty, generational or chronic poverty, and absolute poverty. Some ways to reduce poverty include creating more employment opportunities, minimizing corruption, improving rural sectors, controlling population growth, providing quality education, and abolishing child labor. Addressing poverty requires government schemes and resolutions across many areas.