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This a MCQ (Multiple Choice Question) based practice test of Chapter 4 - Poverty of Economics of Class XI (11) for the quick revision/preparation of School Board examinations
Q When we talk of poverty in a country we mean by
- a)Relative poverty
- b)Absolute poverty
- c)Both
- d)None
Correct answer is 'B'. Can you explain this answer?
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Verified Answer
This a MCQ (Multiple Choice Question) based practice test of Chapter 4...
Absolute poverty refers to a condition where a person does not have the minimum amount of income needed to meet the minimum requirements for one or more basic living needs over an extended period of time.
Most Upvoted Answer
This a MCQ (Multiple Choice Question) based practice test of Chapter 4...
Explanation:
Absolute poverty:
Absolute poverty is a condition where a person is unable to meet his/her basic needs for survival such as food, shelter, clothing, healthcare, and clean water. It is a universal concept and it is measured in terms of income or consumption. According to the World Bank, a person is living in absolute poverty if he/she has to survive on less than $1.90 per day.
Relative poverty:
Relative poverty is a condition where a person has a lower income or standard of living than the average person in their society. It is measured in relation to the overall distribution of income and wealth in a society.
Difference between absolute and relative poverty:
The main difference between absolute and relative poverty is that absolute poverty is a universal concept that is measured in terms of income or consumption, whereas relative poverty is a relative concept that is measured in relation to the overall distribution of income and wealth in a society.
Why option 'B' is correct:
When we talk about poverty in a country, we mean by absolute poverty because it is a universal concept that measures poverty in terms of income or consumption. Relative poverty, on the other hand, is a relative concept that is measured in relation to the overall distribution of income and wealth in a society.
Conclusion:
In conclusion, poverty is a complex issue that has both absolute and relative dimensions. When we talk about poverty in a country, we refer to absolute poverty, which is a universal concept that measures poverty in terms of income or consumption.
Absolute poverty:
Absolute poverty is a condition where a person is unable to meet his/her basic needs for survival such as food, shelter, clothing, healthcare, and clean water. It is a universal concept and it is measured in terms of income or consumption. According to the World Bank, a person is living in absolute poverty if he/she has to survive on less than $1.90 per day.
Relative poverty:
Relative poverty is a condition where a person has a lower income or standard of living than the average person in their society. It is measured in relation to the overall distribution of income and wealth in a society.
Difference between absolute and relative poverty:
The main difference between absolute and relative poverty is that absolute poverty is a universal concept that is measured in terms of income or consumption, whereas relative poverty is a relative concept that is measured in relation to the overall distribution of income and wealth in a society.
Why option 'B' is correct:
When we talk about poverty in a country, we mean by absolute poverty because it is a universal concept that measures poverty in terms of income or consumption. Relative poverty, on the other hand, is a relative concept that is measured in relation to the overall distribution of income and wealth in a society.
Conclusion:
In conclusion, poverty is a complex issue that has both absolute and relative dimensions. When we talk about poverty in a country, we refer to absolute poverty, which is a universal concept that measures poverty in terms of income or consumption.
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This a MCQ (Multiple Choice Question) based practice test of Chapter 4...
Hi friend, When we talk about proverty , at first
come in our mind is Absolute proverty. It refers to a condition where a
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This a MCQ (Multiple Choice Question) based practice test of Chapter 4- Poverty of Economics of Class XI (11) for the quick revision/preparation of School Board examinationsQ When we talk of poverty in a country we mean bya)Relative povertyb)Absolute povertyc)Bothd)NoneCorrect answer is 'B'. Can you explain this answer?
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