ECONOMIC PROBLEMS AND CHALLENGES: POVERTY AND UNEMPLOYMENT. — Social Science STD 10 — Question

Those persons in the developing countries who are unable to fulfil the basic necessities are called absolute poor and that condition is known as absolute poverty. The society in developed countries have different classes. These is a wide disparity in the income of these classes. There are families whose income and standard of living is inferior than the families of well-off classes. These families are considered to be relatively poor. This situation of comparative riches is described as relative poverty.