Gini Coefficient

Definition

The Gini coefficient is a statistical measure used to quantify income inequality within a country. It ranges from 0 (perfect equality) to 1 (maximum inequality), where higher values indicate greater income inequality.

Related terms

Lorenz Curve: The Lorenz curve is a graphical representation used to visualize income distribution within an economy.

Income Inequality: Income inequality refers to the unequal distribution of income among individuals or households in an economy.

Poverty Line: The poverty line represents the minimum level of income required for individuals or families to meet basic needs such as food, shelter, and clothing.