Which of the following is a major criticism of the market basket measure of poverty?

Question

Quizplus · Accepted Answer

The major criticism of the market basket measure of poverty is that it may not include items that are considered necessaries, leading to an underestimation of the number of people living in poverty. This is because the market basket measure is determined by the average cost of a basket of goods and services that are considered necessary for a basic standard of living, but what is considered necessary can vary by location and time. Additionally, the market basket measure does not take into account other factors that may impact a household's ability to make ends meet, such as high medical expenses or childcare costs.

Which of the Following Is a Major Criticism of the Market