5 Questions
What is the main difference between absolute poverty and relative poverty?
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.
What percentage of the world's population live on less than $10 per day, as of 2019?
Two-thirds
According to the World Bank Group in 2020, where do more than 40% of the poor live?
Conflict-affected countries
In which type of poverty does a person compare their living standards to others in the same time and place?
Relative poverty
What does absolute poverty compare income against?
The amount needed to meet basic personal needs
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.
Test your knowledge on poverty and its impact with this quiz. Explore the diverse social, economic, and political causes and effects of poverty, as well as the measures used to evaluate it in statistics and economics.
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