ECONOMIC PROBLEMS AND CHALLENGES: POVERTY AND UNEMPLOYMENT. — Social Science STD 10 — Question
Gujarat BoardEnglish MediumSTD 10Social ScienceECONOMIC PROBLEMS AND CHALLENGES: POVERTY AND UNEMPLOYMENT.3 Marks
Question
Explain the concept of absolute and relative poverty.
✓
Answer
$(A)$ Absolute Poverty:
A person who is unable to purchase the basic necessities of life such as food grains, pulses, milk, vegetables that too at lowest market rate is said to be absolute poor.
Such poverty is called absolute poverty.
$(B)$ Relative poverty:
The condition in which people lack the minimum amount of income needed in order to maintain the average standard of living in the society in which they live is called relative poverty.
Such people are called relatively poor.
Example:
Suppose three persons $A, B$ and $C$ earn RS $10000$ RS $20000$ and RS $30,000$ respectively.
Here, the income of person $'A'$ is lesser than that of $'B'$ and $'C'.$
Hence, person $'A'$ is relatively poor than $'B'$ and $'C'.$ Same is the case for person $'B'$ in comparison to person $'C'.$
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