Which Canadian measure of poverty accounts for regional differences in the cost of living?
A) Low income measure
B) Low income cut-off
C) Market basket measure
D) Relative poverty measure

Question

Quizplus · Accepted Answer

The Market Basket Measure (MBM) accounts for regional differences in the cost of living by measuring the cost of a basket of essential goods and services that a family or individual needs in order to achieve a modest standard of living in a given community. The MBM is considered a more accurate measure of poverty than the Low Income Measure (LIM) or the Low Income Cut-off (LICO) because it takes into account region-specific costs, such as housing and food, which can vary significantly across Canada. The Relative Poverty Measure (RPM) determines poverty based on a percentage of median income, without accounting for regional cost of living differences.

Which Canadian Measure of Poverty Accounts for Regional Differences in the Cost