Yes, governments can devise policies targeting both absolute and relative poverty simultaneously. Policies focused on wealth redistribution, like progressive taxation coupled with robust social welfare programmes, can alleviate both absolute and relative poverty by providing essential services and support to those below the poverty line while narrowing income disparities. For instance, a well-structured Universal Basic Income (UBI) can elevate those in absolute poverty above the poverty threshold while reducing income disparities within the population, addressing the implications of both types of poverty and promoting overall societal wellbeing and equality.

Relative poverty can indeed exist in affluent societies as it is a measure of the disparity in income and living standards within a given population, rather than an absolute measure of deprivation. In wealthy societies, individuals or households classified as relatively poor may have incomes substantially lower than the median, resulting in difficulty maintaining the average standard of living or participating fully in societal activities, even though their incomes may be above the threshold set for absolute poverty. This situation can result from various factors including high income inequality, lack of access to quality education and employment opportunities, or systemic socio-economic disparities.

Education policies can significantly contribute to reducing both absolute and relative poverty. By improving access to quality education for all, especially those in impoverished conditions, governments can empower individuals with the skills and knowledge needed to secure better economic opportunities, breaking the cycle of absolute poverty. Enhanced education also promotes social mobility and economic equality, addressing relative poverty by allowing individuals from low-income backgrounds to improve their socio-economic status. For instance, policies ensuring free, inclusive, and equitable quality education can equip individuals with the requisite competencies to participate effectively in the evolving global economy, thereby mitigating the impacts of both absolute and relative poverty.

While both relative poverty and income inequality pertain to disparities in income and wealth within a population, they differ conceptually. Relative poverty refers specifically to the condition wherein individuals or households earn significantly less than the median income of their society, struggling to maintain the average standard of living and participate fully in their community. Income inequality, on the other hand, is a broader concept that quantifies the distribution of income within a population, reflecting the extent of disparity between the highest and lowest income earners. It does not necessarily denote inability to meet basic needs or maintain an acceptable standard of living.

The poverty threshold for absolute poverty is typically determined by the minimum income level required to meet basic needs such as food, clothing, shelter, and healthcare. This threshold is often set by international organisations, like the World Bank, which currently defines the global absolute poverty line as living on less than $1.90 per day (in 2011 international prices), adjusted for purchasing power parity. This threshold reflects the minimum income required to sustain a person's life and is instrumental in identifying individuals and populations experiencing extreme deprivation, enabling more targeted and effective poverty reduction interventions.