Does anyone know what 'starvation mode' means?

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I have heard a lot talked about eating too few calories and your body going into 'starvation mode'. I'm interested what this means and what actually happens. For example if my BMR is say 1000 calories (this is the amount of calories that my body will burn performing basic body function, breathing heartbeat digestion etc) and i burn an additional say 500 cals a day my starting point to break even is 1500 cals. So if i reduce intake by say 300 cals a day i will slowly lose weight. If i instead reduce cals intake even more what happens to BMR? How many cals does my BMR reduce to and how? I still need to perform basic funtions as before so how does my body do this and run on reduced calorie consumption? Where is the balance & can it be calcualted?

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