Economic Disparities Questions
There are generally three types of poverty:
1. Absolute poverty: This refers to a condition where individuals or households lack the basic necessities of life, such as food, clean water, shelter, and healthcare. Absolute poverty is often measured by the poverty line, which is the minimum income required to meet these basic needs.
2. Relative poverty: Relative poverty is a measure of poverty in relation to the overall distribution of income or wealth in a society. It is defined as having significantly lower income or resources compared to the average or median income of the population. Relative poverty focuses on the social and economic disparities within a society.
3. Multidimensional poverty: This type of poverty takes into account various dimensions of deprivation beyond just income, such as education, health, access to basic services, and living standards. It recognizes that poverty is a complex issue influenced by multiple factors and requires a comprehensive approach to address it effectively.