I'm glad that you're inquiring on this issue. I would like to share the following;
Professor Peter Townsend, defines relative poverty as when someone’s “resources are so seriously below those commanded by the average individual or family that they are, in effect, excluded from ordinary living patterns, customs and activities”.
(Reporting poverty in the UK p 15).
You also can see the following link for details study.
From my point of view poverty may be termed as the state of condition of a person to meet his basic and necessary facilities as well as the choices available to him.
The definition of poverty relative to the study is important because most definitions likely limit the sample size of the study. By most definitions living in poverty implies limited opportunities for education and advancement and consequently low likelihood for later leadership.