What is international poverty line as described by the world bank.diff btw absolute and relative poverty
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In 2008, the World Bank came out with a figure (revised largely due to inflation) of $1.25 a day at 2005 purchasing-power parity (PPP). In October 2015, the World Bank updated the international poverty line to $1.90 a day. ... The common international poverty line has in the past been roughly $1 a day.
Difference between absolute poverty ans relative poverty is...
Absolute poverty refers to a condition where a person does not have the minimum amount of income needed to meet the minimum requirements for one or more basic living needs over an extended period of time.
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. Relative poverty is defined relative to the members of a society and, therefore, differs across countries. People are said to be impoverished if they cannot keep up with the standard of living as determined by society.
Relative poverty also changes over time. As the wealth of a society increases, so does the amount of income and resources that the society deems necessary for proper conditions of living. For example, if you were a family of four (two adults and two children) living in America in 1963 with a yearly income less than $3,100, you would have been living in relative poverty. By 1992, this amount had increased to $14,228 a year.
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Difference between absolute poverty ans relative poverty is...
Absolute poverty refers to a condition where a person does not have the minimum amount of income needed to meet the minimum requirements for one or more basic living needs over an extended period of time.
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. Relative poverty is defined relative to the members of a society and, therefore, differs across countries. People are said to be impoverished if they cannot keep up with the standard of living as determined by society.
Relative poverty also changes over time. As the wealth of a society increases, so does the amount of income and resources that the society deems necessary for proper conditions of living. For example, if you were a family of four (two adults and two children) living in America in 1963 with a yearly income less than $3,100, you would have been living in relative poverty. By 1992, this amount had increased to $14,228 a year.
Hope this will be helpful to you...
Plz mark it as brainliest...
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