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Question

Differentiate between absolute poverty and relative poverty.


Solution

Basis of Difference Absolute PovertyRelative PovertyMeaningAbsolute poverty Relative povertymeans that themeans that aperson is not ableperson is poor into achieve acomparison tominimum level ofcertain otherconsumption.peoplePrevalenceThis concept isThis concept isprevalent in lessprevalent indevelopeddevelopedcountries.countries.

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