Poverty Can Be Defined in Either Relative or Absolute Terms

question 98

Multiple Choice

Poverty can be defined in either relative or absolute terms. How is poverty defined according to absolute deprivation?

• A) by considering access to food, shelter, clothing, and medical care
• B) by comparing the poor with more affluent members of society
• C) by asking which groups within a society have power and prestige
• D) by comparing the poor with the poor of other historical periods

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Definitions:

GAAP

Stands for Generally Accepted Accounting Principles; these are a common set of accounting principles, standards, and procedures that companies must follow when they compile their financial statements.

Corporation

A legal entity owned by shareholders, recognized as a separate entity from its owners, with rights and liabilities distinct from those of its members.

Transferable Shares

Shares that can be transferred from one party to another, typically without restriction.

Corporation

A legal entity recognized by law as separate from its owners, capable of conducting business, entering into contracts, and owning assets, with shareholders who invest money for the potential of profitability.