ECONOMICS
ECONOMIC GROWTH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A minimum level of subsistence that no family should be expected to live below.
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The movement of a person from one social position to another of a different rank.
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The position of each individual is influenced by his or her achieved status.
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Changes in the social position of children relative to their parents.
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Detailed explanation-1: -Absolute poverty is a situation where a population or section of a population is able to meet only its bare subsistence essentials of food, clothing and shelter in order to maintain minimum levels of living. Absolute poverty is claimed to be an objective definition, based upon the notion of subsistence.
Detailed explanation-2: -That’s why in September 2022 the international poverty line is being updated from $1.90 to $2.15 per person per day. What is the new poverty line, and based on this new measure, how many people are living in extreme poverty in the world? The new international poverty line is set at $2.15 using 2017 prices.
Detailed explanation-3: -The correct answer is Absolute poverty. Absolute poverty occurs when a person’s or family’s household income falls below a specific threshold, making it difficult to cover basic needs such as food, shelter, safe drinking water, education, and healthcare.
Detailed explanation-4: -2. General poverty refers to the absence of minimum subsistence. Explanation-The concept of general poverty implies the absence of minimum subsistence or the absence of sufficient income to buy the basic necessities of life such as food, shelter, and clothing.
Detailed explanation-5: -The definition of absolute poverty In 1995, the United Nations defined this level of poverty as: “a condition characterised by severe deprivation of basic human needs, including food, safe drinking water, sanitation facilities, health, shelter, education and information.