Question

Which of the following statements accurately describe absolute poverty?

1. Absolute poverty signifies the sheer deprivation or non-fulfillment of bare minimum needs of existence.
2. It is primarily based on a comparison of income levels between different social classes.
3. People are defined as poor when their absolute needs, such as food and shelter, are not sufficiently satisfied.
4. Absolute poverty is a concept mainly relevant to highly developed countries.

• A. iii only
• B. iii, iv
• C. i, iii
• D. i only

Answer 1

Answer:

C. i, iii

• Absolute poverty is a critical concept in economics and development, focusing on the most basic human needs.

• Unlike relative poverty, which considers an individual's income or wealth in comparison to the rest of society, absolute poverty sets a fixed standard based on what is necessary for survival and basic well-being.

• This includes fundamental needs like adequate food for caloric intake, safe shelter, essential healthcare, and basic education.

• The World Bank, for instance, sets an international poverty line based on a specific dollar amount per day to measure absolute poverty globally.