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Types/Measures of Poverty Video Lecture | Economics Class 12 - Commerce

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FAQs on Types/Measures of Poverty Video Lecture - Economics Class 12 - Commerce

1. What are the different types of poverty?
Ans. There are various types of poverty, including absolute poverty, relative poverty, and multidimensional poverty. Absolute poverty refers to a lack of basic needs such as food, shelter, and clothing. Relative poverty is defined in relation to the average living standards within a specific society, where individuals or households have significantly less income or resources. Multidimensional poverty takes into account multiple factors such as education, health, and living standards to measure poverty.
2. How is poverty measured?
Ans. Poverty can be measured using various indicators and methods. One common measurement is the poverty line, which sets a specific income threshold below which individuals or households are considered to be living in poverty. Other measures include the poverty rate, which calculates the percentage of the population living below the poverty line, and the Human Development Index (HDI), which considers factors such as income, education, and life expectancy to assess poverty levels.
3. What is the difference between relative and absolute poverty?
Ans. The main difference between relative and absolute poverty lies in the way poverty is defined and measured. Absolute poverty refers to a lack of basic needs, and individuals or households are considered to be living in absolute poverty if they do not have enough resources to meet these basic needs. On the other hand, relative poverty is defined in relation to the average living standards within a specific society. Individuals or households are considered to be in relative poverty if their income or resources are significantly lower compared to the average within that society.
4. How does multidimensional poverty differ from other types of poverty?
Ans. Unlike absolute or relative poverty, which primarily focus on income or material deprivation, multidimensional poverty takes into account multiple factors to measure poverty. These factors may include education, health, living standards, access to basic services, and social exclusion. By considering a broader range of dimensions, multidimensional poverty provides a more comprehensive understanding of poverty and its various aspects. It recognizes that poverty is not solely about income, but also encompasses other deprivations that affect people's well-being.
5. How do policymakers use poverty measures to address poverty?
Ans. Policymakers use poverty measures to identify the extent and nature of poverty within a population. These measures help policymakers in formulating and implementing targeted policies and interventions to alleviate poverty. By understanding the types and levels of poverty, policymakers can design social welfare programs, improve access to education and healthcare, promote economic opportunities, and address the root causes of poverty. Poverty measures also aid in monitoring the effectiveness of poverty reduction strategies and tracking progress over time.
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