Correct Answer: Relative Poverty
Subject: economics
Explanation: • <b>Key Fact</b> Relative poverty occurs when people are poor compared to others. • <b>Supporting Detail</b> It focuses on income inequality and the wealth gap in society. • <b>Related Concept</b> Absolute poverty is the inability to meet minimum basic survival needs. • <b>Why wrong options are wrong</b> Absolute poverty relates to basic needs, while subjective and situational are not standard source terms here. • <b>Exam Trick</b> "Compared to others" always points to the word "Relative". • <b>Additional Info</b> Lorenz Curve and Gini Coefficient are tools used to measure this relative inequality.
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