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What is the main difference between absolute poverty and relative poverty?
What is the main difference between absolute poverty and relative poverty?
- Absolute poverty is the same across all countries, while relative poverty varies from one country to another.
- Absolute poverty measures the poverty rate among children, while relative poverty measures the poverty rate among adults.
- Absolute poverty measures a person's living standards compared to others in the same time and place, while relative poverty compares income against the amount needed to meet basic personal needs.
- Absolute poverty compares income against the amount needed to meet basic personal needs, while relative poverty measures a person's living standards compared to others in the same time and place. (correct)
What percentage of the world's population live on less than $10 per day, as of 2019?
What percentage of the world's population live on less than $10 per day, as of 2019?
- One-third
- One-fourth
- Half
- Two-thirds (correct)
According to the World Bank Group in 2020, where do more than 40% of the poor live?
According to the World Bank Group in 2020, where do more than 40% of the poor live?
- Conflict-affected countries (correct)
- Agriculturally advanced countries
- Developed countries
- Island nations
In which type of poverty does a person compare their living standards to others in the same time and place?
In which type of poverty does a person compare their living standards to others in the same time and place?
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What does absolute poverty compare income against?
What does absolute poverty compare income against?
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Study Notes
Types of Poverty
- Absolute poverty is a state of living where an individual's basic needs are not met, whereas relative poverty is a state of living where an individual's income is significantly lower than the average income of the society.
Global Poverty Rates
- As of 2019, over 40% of the world's population, or approximately 3.4 billion people, live on less than $10 per day.
Poverty Concentration
- According to the World Bank Group in 2020, more than 40% of the poor live in the South Asian region.
Relative Poverty
- Relative poverty is a type of poverty where an individual compares their living standards to others in the same time and place.
Absolute Poverty
- Absolute poverty compares income against a fixed minimum threshold, which is usually the minimum income required to meet basic needs such as food, shelter, and clothing.
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