Which of the following is a substantial critique of the monetary approach to poverty?
A) Everything needed for a minimum standard of living has a monetary value.
B) Everything can be bought on markets.
C) Specific income levels will be spent on basic needs.
D) Household income is distributed so that individuals will meet their respective needs.
E) All of the above

Question

Quizplus · Accepted Answer

The monetary approach to poverty, which focuses on income levels as the primary indicator of poverty, is critiqued for several reasons: A) assumes all essentials for living can be quantified monetarily, ignoring non-monetary aspects of well-being; B) overlooks the fact that not everything necessary for a decent life can be purchased in markets, such as public goods or social relationships; C) presumes that people will prioritize spending on basic needs, which might not always be the case due to various socio-economic factors; D) assumes income is distributed within households in a way that ensures all members' needs are met, ignoring intra-household dynamics and inequalities.

Which of the Following Is a Substantial Critique of the Monetary