Absolute And Relative Poverty Flashcards
1
Q
What is absolute poverty?
A
Where individuals cannot afford to acquire the basic necessities for a healthy & safe existence
2
Q
What is relative poverty?
A
Situation where household income is a certain percentage less than the median household income in the economy
3
Q
What causes change in absolute and relative poverty?
A
Inequality in wages in unemployment
Welfare payments
Taxes
Wars and conflict
Natural disasters
