Question

Which of the following statements can be related to the concept of relative poverty?

• A. It considers the relative standards of living
• B. Measured by looking at the different levels of income within a society or in different countries
• C. Condition where an individual does not have the financial means to obtain commodities to sustain life.
• D. Purchasing power, measured based on comparative market prices in the economy

Answer 1

Answer: (A), (B)

Measured by looking at the different levels of income within a society or in different countries

Relative poverty can be understood by looking at the relative standards of living within a society or in different countries. People living in relative poverty are to an extent well-off compared to those living in absolute poverty.