Question

__________ is measured by comparing personal or household income or expenses with the cost of buying a given quantity of goods and services.

A. Relative poverty
B. Subjective poverty
C. Standard poverty
D. Absolute poverty

Answer 1

Relative poverty is measured by comparing personal or household income or expenses with a society's average standard of living, while absolute poverty refers to the lack of basic necessities. Subjective poverty is based on individual perceptions of income.

Step-by-step explanation:

Relative poverty is measured by comparing personal or household income or expenses with the average standard of living in a society. It refers to a state where people can afford necessities but are unable to meet their society's average standard of living. This is different from absolute poverty, where individuals or families lack basic necessities such as food and shelter. Subjective poverty, on the other hand, is a perception of poverty based on individual expectations and perceptions of income.