Which of the Following Is NOT a Feature of Relative

question 98

Multiple Choice

Which of the following is NOT a feature of relative poverty?

• A) People do not have the means to secure basic necessities.
• B) People are unable to maintain an average standard of living.
• C) People have the means to secure basic necessities.
• D) People live in societies that are based on principles equity.

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Definitions:

Market Equilibrium

A situation where the quantity demanded of a good or service equals the quantity supplied, leading to a stable price.

Actual Price

The price at which a good or service is sold in the market, not taking into account discounts or premiums.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price.

Quantity Supplied

The amount of a commodity that producers are willing to sell at a particular price at a given period.