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Q. What do you meant by Relative Poverty?

Relative Poverty: A measure of poverty based on an individual or family's relative income compared to overall average level of income in economy as a whole. Relative poverty thresholds changes over time with growth in overall income levels. Distinct from absolute measures of poverty, which are defined according to a specified level of real consumption.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M9579429

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