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What is the difference between absolute and relative poverty?
Poverty refers to a situation where an individual (or household) is unable to maintain minimum basic standards of living(food.clothing and shelter). Absolute poverty is a measure of poverty based on a set standard like the poverty line in India. It is usually measured in terms of money.It cam e eraRead more
Poverty refers to a situation where an individual (or household) is unable to maintain minimum basic standards of living(food.clothing and shelter).
Absolute poverty is a measure of poverty based on a set standard like the poverty line in India. It is usually measured in terms of money.It cam e eradicated and is sometimes manipulated to show reduction in poverty when it isn’t there.
Relative poverty of an individual is a measured in comparison to another individual.For example a middle income person is considered relatively poorer to a rich person.It can not be eradicated.It is also a measure of inequality or deprivation.
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