Differentiate Relative poverty and Absolute poverty
Relative poverty refers to a situation in which an individual or group of individuals are deemed to be poor in comparison to the society in which they live. It is typically measured in relation to the average income or standard of living within a particular country or region. For example, if a person's income is below a certain percentage (often 50% or 60%) of the median income in their country, they may be considered to be living in relative poverty.
On the other hand, absolute poverty refers to a state of deprivation in which individuals are unable to meet basic human needs, such as access to adequate food, shelter, healthcare, and education. It is an absolute measure that does not depend on comparison with others. Absolute poverty is often measured using an international poverty line or threshold, such as the World Bank's international poverty line of $1.90 per day.
In summary, relative poverty is a measure of poverty based on a person's income or standard of living relative to others in their society, whereas absolute poverty is a measure of poverty based on meeting basic human needs, independent of comparison with others.