Choose if the given statement is True/False:

Income and consumption are two indicators related to poverty.

see full answer

Your Exam Success, Personally Taken Care Of

1:1 expert mentors customize learning to your strength and weaknesses – so you score higher in school , IIT JEE and NEET entrance exams.

An Intiative by Sri Chaitanya

True

False

answer is A.

(Unlock A.I Detailed Solution for FREE)

Best Courses for You

JEE

NEET

Foundation JEE

Foundation NEET

CBSE

Detailed Solution

The above statement is True.
Income and consumption are two indicators related to poverty.
The level of income and consumption determine the Poverty Line. If a person's income and consumption levels fall below the minimum, he is considered poor. The Poverty Line varies from country to country as the basic needs needed in each country are different. While determining the Poverty Line in India, a minimum level of food and educational and medical requirements are determined. They are then multiplied by their prices in rupees. This is revised periodically, taking into consideration the rise in prices.

Watch 3-min video & get full concept clarity