Poverty

Question

What do you mean by Absolute Poverty and Relative Poverty?

Or

What is the difference between relative and absolute poverty?

Answer

(i) Absolute Poverty: It is defined as the inability to achieve the minimum requirement of life, health and efficiency as a result of very low income or insufficient assets.

(ii) Relative Poverty : It makes a comparison of relative levels of income of different people or different segments of population to determine who is poor.

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