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Which is of the following statements is correct?
- a)Gini coefficients are often used for measuring poverty in relative sense
- b)When poverty is related to the distribution of income or consumption expenditure, it is absolute poverty
- c)In India, we mainly use the concept of relative poverty for measuring poverty
- d)None of the above
Correct answer is option 'A'. Can you explain this answer?
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Which is of the following statements is correct?a)Gini coefficients ar...
Gini Coefficients for Measuring Poverty
Gini coefficient is a statistical measure of inequality in a population, developed by the Italian statistician Corrado Gini. It is often used to measure the income or wealth distribution of a nation's residents. The coefficient ranges from 0 to 1, where 0 represents perfect equality (everyone has the same income) and 1 represents perfect inequality (one person has all the income, while everyone else has none).
Relative Poverty
Relative poverty is a measure of poverty based on the income or consumption of the people in a society relative to the overall income or consumption of that society. It is often used to compare the poverty levels of different countries or to track changes in poverty over time within a society. Relative poverty is usually measured using the poverty line, which is a threshold below which people are considered to be poor.
Absolute Poverty
Absolute poverty is a measure of poverty that is not relative to the overall income or consumption of a society. It is based on a fixed standard of living that is considered to be the minimum necessary for survival. Absolute poverty is often used to measure poverty in developing countries, where many people lack access to basic necessities such as food, water, shelter, and healthcare.
Correct Answer
The correct answer is option 'A' - Gini coefficients are often used for measuring poverty in relative sense. The Gini coefficient is a measure of income or wealth inequality, which is closely related to relative poverty. The coefficient can be used to compare the income or wealth distribution of different countries or to track changes in inequality over time within a society. However, it does not directly measure poverty, and it is often used in combination with other indicators such as the poverty line to provide a more comprehensive picture of poverty.
Gini coefficient is a statistical measure of inequality in a population, developed by the Italian statistician Corrado Gini. It is often used to measure the income or wealth distribution of a nation's residents. The coefficient ranges from 0 to 1, where 0 represents perfect equality (everyone has the same income) and 1 represents perfect inequality (one person has all the income, while everyone else has none).
Relative Poverty
Relative poverty is a measure of poverty based on the income or consumption of the people in a society relative to the overall income or consumption of that society. It is often used to compare the poverty levels of different countries or to track changes in poverty over time within a society. Relative poverty is usually measured using the poverty line, which is a threshold below which people are considered to be poor.
Absolute Poverty
Absolute poverty is a measure of poverty that is not relative to the overall income or consumption of a society. It is based on a fixed standard of living that is considered to be the minimum necessary for survival. Absolute poverty is often used to measure poverty in developing countries, where many people lack access to basic necessities such as food, water, shelter, and healthcare.
Correct Answer
The correct answer is option 'A' - Gini coefficients are often used for measuring poverty in relative sense. The Gini coefficient is a measure of income or wealth inequality, which is closely related to relative poverty. The coefficient can be used to compare the income or wealth distribution of different countries or to track changes in inequality over time within a society. However, it does not directly measure poverty, and it is often used in combination with other indicators such as the poverty line to provide a more comprehensive picture of poverty.
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Which is of the following statements is correct?a)Gini coefficients are often used for measuring poverty in relative senseb)When poverty is related to the distribution of income or consumption expenditure, it is absolute povertyc)In India, we mainly use the concept of relative poverty for measuring povertyd)None of the aboveCorrect answer is option 'A'. Can you explain this answer?
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Which is of the following statements is correct?a)Gini coefficients are often used for measuring poverty in relative senseb)When poverty is related to the distribution of income or consumption expenditure, it is absolute povertyc)In India, we mainly use the concept of relative poverty for measuring povertyd)None of the aboveCorrect answer is option 'A'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Which is of the following statements is correct?a)Gini coefficients are often used for measuring poverty in relative senseb)When poverty is related to the distribution of income or consumption expenditure, it is absolute povertyc)In India, we mainly use the concept of relative poverty for measuring povertyd)None of the aboveCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which is of the following statements is correct?a)Gini coefficients are often used for measuring poverty in relative senseb)When poverty is related to the distribution of income or consumption expenditure, it is absolute povertyc)In India, we mainly use the concept of relative poverty for measuring povertyd)None of the aboveCorrect answer is option 'A'. Can you explain this answer?.
Which is of the following statements is correct?a)Gini coefficients are often used for measuring poverty in relative senseb)When poverty is related to the distribution of income or consumption expenditure, it is absolute povertyc)In India, we mainly use the concept of relative poverty for measuring povertyd)None of the aboveCorrect answer is option 'A'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Which is of the following statements is correct?a)Gini coefficients are often used for measuring poverty in relative senseb)When poverty is related to the distribution of income or consumption expenditure, it is absolute povertyc)In India, we mainly use the concept of relative poverty for measuring povertyd)None of the aboveCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which is of the following statements is correct?a)Gini coefficients are often used for measuring poverty in relative senseb)When poverty is related to the distribution of income or consumption expenditure, it is absolute povertyc)In India, we mainly use the concept of relative poverty for measuring povertyd)None of the aboveCorrect answer is option 'A'. Can you explain this answer?.
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Which is of the following statements is correct?a)Gini coefficients are often used for measuring poverty in relative senseb)When poverty is related to the distribution of income or consumption expenditure, it is absolute povertyc)In India, we mainly use the concept of relative poverty for measuring povertyd)None of the aboveCorrect answer is option 'A'. Can you explain this answer?, a detailed solution for Which is of the following statements is correct?a)Gini coefficients are often used for measuring poverty in relative senseb)When poverty is related to the distribution of income or consumption expenditure, it is absolute povertyc)In India, we mainly use the concept of relative poverty for measuring povertyd)None of the aboveCorrect answer is option 'A'. Can you explain this answer? has been provided alongside types of Which is of the following statements is correct?a)Gini coefficients are often used for measuring poverty in relative senseb)When poverty is related to the distribution of income or consumption expenditure, it is absolute povertyc)In India, we mainly use the concept of relative poverty for measuring povertyd)None of the aboveCorrect answer is option 'A'. Can you explain this answer? theory, EduRev gives you an
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