Economics

Give the difference between absolute and relative poverty.


SOLUTION
 BASIS ABSOLUTE  POVERTY RELATIVE POVERTY
 

Biological Needs

 any person who is not in a position to meet the most basic commodities to sustain life like food, shelter, and clothing is considered to experiencing extreme poverty
 relative poverty does not classify biological needs in its definition but focuses on the comparison between other people within the environment.
 

Income Levels

 People who have a considerable amount of income can meet their basic commodities


 the income level is highly considered in absolute poverty, but it is not considered under the relative poverty measurement.


 

 Poverty Alleviation Programs 

 Different international bodies and government of various countries have developed policies and measures to ensure that absolute poverty is eradicated around the world


 there are no measures and policies implemented to alleviate relative poverty.


 

Quality of Life 

 Here quality of life is better Quality of life is poor
 Ability  to change can be eradicated cannot be eradicated
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