what is the difference between absolute poverty and relative poverty
Relative poverty:- when we compare the incomes of different people, we find that some people are poorer than other , it is called relative poverty. Relative poverty does not consider, how poor the poor persons are or whether he is deprived of the basis minimum requirement of life or not. It compares the inequality of income assets ownership. It helps in understanding the relative position of different segment of the populations. The defect in the relative measure of poverty is that it only reflect the relative position of different segment of the population in the income hierarchy.
Absolute poverty:-It refers to the total number of people living below poverty line. In poverty line a standard is fixed in terms of minimum level of consumption. Absolute poverty refers to a situation when a person fails to reach this minimum consumption.