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Difference between relative poverty and absolute …

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Difference between relative poverty and absolute poverty.

    • Posted by Manav Sharma 5 years, 2 months ago

    CBSE > Class 12 > Economics
    • 1 answers

    Gaurav Seth 5 years, 2 months ago

    <th>BASIS FOR COMPARISON</th> <th>ABSOLUTE POVERTY</th> <th>RELATIVE POVERTY</th>
    Meaning Absolute poverty is a state in which a person or family is highly deprived of the basic needs making their livelihood difficult. Relative poverty is a condition when a person or family is unable to reach the minimum average living standard, in the society.
    Indicates poverty in relation to Level of income needed to fulfill basic needs. Economic status of others in society.
    Standard Remains consistent over time. Changes over time.
    Measure Measured using poverty line Measured using the Gini Coefficient and Lorenz Curve
    Found in Developing countries Developed countries

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