Which of the following can be referred to in the estimation of poverty?  

The correct answer is Monthly Per Capita Expenditure.

Key Points 

• Monthly Per Capita Expenditure:-

  • It is used in economics and personal finance to describe the average monthly spending of each person in a defined population, such as a household, city, province, or country.

  • This is calculated by taking the total monthly expenditure of the population and dividing it by the total number of people in that population.

  • Formula:- Monthly Per Capita Expenditure = Total monthly expenditure / Total population.

  • It can be referred to in the estimation of poverty.

Additional Information

• Marginal utility:-
  • It refers to the additional satisfaction or benefit (utility) that a consumer derives from consuming an additional unit of a good or service.
  • The principle of diminishing marginal utility suggests that as a person consumes more and more of a good, the incremental benefit experienced from consuming another unit declines.
• Minimum Support Price:-
  • It is generally used in the context of agricultural policies.
  • MSP is a form of market intervention by the government to insure agricultural producers against any sharp fall in farm prices.
  • The minimum support prices are announced by the government at the beginning of the sowing season for certain crops.