explain the following terms:poverty,absolute poverty,relative poverty,pivertyline,international poverty line,social exclusion,vulnerability,economic growth.
Answers
Answer:
Poverty is the lack of basic human needs such as Nutrition, health care education, clothing and shelter, because of the inability to afford them.
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Absolute poverty is when household income is below a certain level, which makes it impossible for the person or family to meet basic needs of life including food, shelter, safe drinking water, education, healthcare, etc.
Relative poverty is 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. Relative poverty is considered the easiest way to measure the level of poverty in an individual country.
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.
The international poverty line is a monetary threshold under which an individual is considered to be living in poverty. ... When purchasing power parity and all goods consumed are considered in the calculation of the line, it allows organizations to determine which populations are considered to be in absolute poverty.
Vulnerability is a measure, which describes the greater probability of certain communities of becoming, or remaining, poor in the coming years. The proportion of people below poverty line is not same for all social groups and economic categories in India.
Social Exclusion It is a process through which individuals or groups are excluded from facilities, benefits and opportunities that others enjoy.
Economic growth is an increase in the the production of economic goods and services, compared from one period of time to another.
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