/ ˈpɒvəti; NAmE ˈpɑːvərti/ noun
1.
[ U ] the state of being poor :
conditions of abject / extreme poverty
to alleviate / relieve poverty
Many elderly people live in poverty .
2.
[ U , sing. ] a lack of sth; poor quality :
There is a poverty of colour in her work.
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WORD ORIGIN
Middle English : from Old French poverte , from Latin paupertas , from pauper poor.