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Poverty as defined by World Bank implies living below :
- a)$1.90 a day
- b)$100 per month
- c)$10 per day
- d)none of these
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
Poverty as defined by World Bank implies living below :a)$1.90 a dayb)...
The World Bank defines poverty in absolute terms. The bank defines extreme poverty as living on less than US$1.90 per day. (PPP), and moderate poverty as less than $3.10 a day. It has been estimated that in 2008, 1.4 billion people had consumption levels below US$1.25 a day and 2.7 billion lived on less than $2 a day.
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Poverty as defined by World Bank implies living below :a)$1.90 a dayb)...
Understanding Poverty According to the World Bank
Poverty is a critical issue that affects millions worldwide. The World Bank has established a specific threshold to define extreme poverty.
Extreme Poverty Line
- The World Bank defines extreme poverty as living on less than $1.90 a day.
- This figure is adjusted for purchasing power parity (PPP), which accounts for cost of living variations across countries.
Significance of the $1.90 Threshold
- The $1.90 threshold is based on a comprehensive study of the minimum income required for basic needs, such as food, shelter, and clothing.
- Setting this benchmark allows for a standardized measurement of poverty globally, facilitating comparisons across nations and regions.
Context of Global Poverty
- As of recent assessments, approximately 689 million people live below this poverty line.
- The World Bank uses this figure to frame policies and target aid for poverty alleviation.
Limitations and Further Considerations
- While the $1.90 threshold is crucial for understanding extreme poverty, it does not encompass relative poverty, which varies considerably across different countries.
- Other metrics may include national poverty lines or multidimensional poverty indices that consider various factors beyond income.
Conclusion
- The choice of option A ($1.90 a day) is correct as it aligns with the World Bank's definition of extreme poverty.
- Understanding this definition is essential for addressing global poverty challenges and promoting effective economic policies.
Poverty is a critical issue that affects millions worldwide. The World Bank has established a specific threshold to define extreme poverty.
Extreme Poverty Line
- The World Bank defines extreme poverty as living on less than $1.90 a day.
- This figure is adjusted for purchasing power parity (PPP), which accounts for cost of living variations across countries.
Significance of the $1.90 Threshold
- The $1.90 threshold is based on a comprehensive study of the minimum income required for basic needs, such as food, shelter, and clothing.
- Setting this benchmark allows for a standardized measurement of poverty globally, facilitating comparisons across nations and regions.
Context of Global Poverty
- As of recent assessments, approximately 689 million people live below this poverty line.
- The World Bank uses this figure to frame policies and target aid for poverty alleviation.
Limitations and Further Considerations
- While the $1.90 threshold is crucial for understanding extreme poverty, it does not encompass relative poverty, which varies considerably across different countries.
- Other metrics may include national poverty lines or multidimensional poverty indices that consider various factors beyond income.
Conclusion
- The choice of option A ($1.90 a day) is correct as it aligns with the World Bank's definition of extreme poverty.
- Understanding this definition is essential for addressing global poverty challenges and promoting effective economic policies.
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