Economy - General Awareness

What is Absolute Poverty?

A situation where a population or a section of a population is able to meet only its bare subsistence essentials of food clothing and shelter in order to maintain a minimum level of living is called absolute poverty. Another term is poverty threshold, or poverty line. Thus it is the minimum level of income deemed necessary to achieve an adequate standard of living in a given country. As per the world Bank , the common international poverty line is $1.08 at 1993 purchasing-power parity (PPP).

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