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¨ The poverty has been divided in two parts.
1. Absolute poverty – When people do not have enough money to meet the basic threshold to buy food, shetter, clothing etc. that is needed for survival it is known as Relative poverty.
¨ It is also defined in terms of insufficiency of basic needs.
2. Relative poverty – This concept is related to the general standard of living in a society. When people are poor in comparison to others around them, but may still have enough money to survive.
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