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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?
Most Upvoted 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.
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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- 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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