What is a common term used to measure poverty based on the income or consumption levels?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. Poverty line.
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Poverty line is the level of income to meet the minimum living conditions.
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Poverty line is the amount of money needed for a person to meet his basic needs.
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It is defined as the money value of the goods and services needed to provide basic welfare to an individual.