State the poverty line measure defined by WTO.
Question
State the poverty line measure defined by WTO.
Solution
The poverty line measure defined by the World Trade Organization (WTO) is a threshold that determines the minimum level of income or consumption required to meet basic needs and escape poverty. This measure varies across countries and is often based on the national average income or consumption levels. It is used to assess the extent of poverty within a country and to compare poverty rates between different countries. The WTO does not have a specific poverty line measure, as its main focus is on international trade and economic development. However, it recognizes the importance of poverty reduction in achieving sustainable development and promotes policies that aim to alleviate poverty and improve living standards.
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