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Though, in a market, when buying a product, one gets a chance to compare the product with other similar products made by several companies and this helps in choosing one that is most suitable for his requirements.
Let us take a closer look at the two concepts, absolute and relative.
Relative risk is a concept where people are divided into groups based upon their habits and lifestyles.
For example, smokers and non-smokers are two distinct groups that have different relative risks to heart diseases.
The relative dating is the technique to ascertain the age of the artifacts, rocks or even sites while comparing one from the other.
In relative grading of students, the grades are set according to the highest marks for a paper. • Absolute evaluation or analysis means an individual, product, or idea is not compared with any other entity, and its performance is judged free from other criteria.
The difference between absolute and relative stems from the choice of comparison.
Absolute and relative are concepts that are used in life to know more about people, things, and ideas.
When you are looking at an absolute perspective, you are not taking into account other similar people or products.
You are taking an object as it is and coming to a conclusion based on what it has to offer.Every individual has a genetic code that is different and thus there are differences in absolute risks of different people.For example, a person may have just 10% chance of developing heart problem later in life, whereas another person, based upon his health and lifestyle may have 50% risk of developing a heart disease.When it comes to grading students too, absolute grading is used.