Which of the following is correct regarding the term 'absolute poverty'?

It refers to the standard of living compared to the economic standards of living within a group of nations.

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It refers to a condition where an individual does not have the financial means to obtain commodities to sustain life.

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It refers to the standard of living compared to the economic standards of living within the same surroundings.

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It refers to a condition where a nation does not have the financial means to obtain commodities to sustain life.

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Solution

The correct option is B It refers to a condition where an individual does not have the financial means to obtain commodities to sustain life.
Poverty can be viewed in relative or absolute terms. Absolute poverty is used to describe a condition where an individual does not have the financial means to obtain commodities to sustain life. Relative poverty refers to the standard of living compared to the economic standards of living within the same surroundings.

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Similar questions

Consider the following statements regarding Fundamental Rights:

1.Abolition of untouchability is an absolute Fundamental Right.

2.Clauses (1) and (2) of Article 22 are not available to enemy aliens.

3.The term ‘minority’ is not defined in the Indian Constitution.

Which of the above statements is/are correct?

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