2.
3.
What is poverty? Explain how the poverty line determines poverty.
What is inflation? Discuss the main methods of controlling inflation.
What is unemployment? What are its different types? Mention the main causes
of this problem.
4.
5.
Write short notes:
(a)
(b)
Seasonal unemployment
Demand-pull and cost-push inflation
Sustainable development
(d)
Green Economy
(e)
Open and suppressed inflation
Answers
What is poverty? Explain how the poverty line determines poverty.
Poverty line is the level of income to meet the minimum living conditions.
Poverty line is the amount of money needed for a person to meet his basic needs. It is defined as the money value of the goods and services needed to provide basic welfare to an individual.
Poverty line differs from one country to another, depending upon the idea of poverty
Poverty line changes from one country to another. In developed countries, where there is advanced standard of living and welfare concepts, poverty line is high as basic standard to live include higher consumption requirements and accessibility to many goods and services.
On the other hand, in many less developed countries, the basic requirements will be low and contains mostly essential consumption items needed to sustain life. This means that poverty line is set by the welfare standard in a particular society (economy).
Poverty is ‘relative’ and what poverty in the US or in an advanced West European country may not be poverty in Bangladesh.
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