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The basic needs approach has been described as consumption-oriented, giving the impression "that poverty elimination is all too easy." [4] Amartya Sen focused on 'capabilities' rather than consumption. In the development discourse, the basic needs model focuses on the measurement of what is believed to be an eradicable level of poverty.
The 1998 design of the BNS built on earlier work on the "consensual definition of poverty" by Mack and Lansley in the UK [7] and Hallerod in Sweden. [8]Mack and Lansley defined items as necessities if, as above, more than 50% of respondents identified them as such, Results were summarised in terms of percentages of the respondents lacking 1, 2, 3 to N number of necessities.
As a result of revisions in PPP exchange rates, poverty rates for individual countries cannot be compared with poverty rates reported in earlier editions." [11] "National poverty headcount ratio is the percentage of the population living below the national poverty line(s). National estimates are based on population-weighted subgroup estimates ...
Price gouging is a pejorative term used to refer to the practice of increasing the prices of goods, services, or commodities to a level much higher than is considered reasonable or fair by some. This commonly applies to price increases of basic necessities after natural disasters. Usually, this event occurs after a demand or supply shock.
Cost of a basic but decent life for a family [1] [2]. A living wage is defined as the minimum income necessary for a worker to meet their basic needs. [3] This is not the same as a subsistence wage, which refers to a biological minimum, or a solidarity wage, which refers to a minimum wage tracking labor productivity.
Gold's price surpassed $2,700 per ounce in October 2024, drawing renewed interest worldwide. While many people are looking at gold right now, some are also considering oil as an alternative ...
In many cases, renewable resources, such as land, are common commodities but some of them are contained in public goods. Public goods are non-exclusive and non-competitive, meaning that individuals cannot be stopped from using them and anyone can consume this good without hindering the ability of others to consume them.
Shortages in Venezuela of food staples and basic necessities occurred throughout Venezuela's history. [6] Scarcity became more widespread following the enactment of price controls and other policies under the government of Hugo Chávez [7] [8] and exacerbated by the policy of withholding United States dollars from importers under the government of Nicolás Maduro. [9]