Week 5 - Social class and Socioeconomic Status

Question 1

Define absolute poverty

Answer 1

Income is too low to afford what is required for physical survival

Question 2

Define relative poverty

Answer 2

Way of life is deprived relative to what is customary in their society.

Question 3

Define the precariat

Answer 3

A class of people existing without predictability or security, lack proper budget or can’t predict income.