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What is Gini coefficient used for?
  • a)
    To measure income equality
  • b)
    To measure income inequality
  • c)
    To measure distribution of income
  • d)
    To measure profit and loss
  • e)
    None of the above/ More than one of the above
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
What is Gini coefficient used for?a)To measure income equalityb)T...
  • Gini Coefficient represents measures the degree of income inequality in the country's population.
  • The value of the Gini Coefficient varies from 0 to 1.
  • 0 means perfect equality where everyone has the same income, and 1 means perfect inequality where all the income is received by a single individual.
  • Graphical Representation of the Gini Index (Lorenz curve)
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Community Answer
What is Gini coefficient used for?a)To measure income equalityb)T...
  • Gini Coefficient represents measures the degree of income inequality in the country's population.
  • The value of the Gini Coefficient varies from 0 to 1.
  • 0 means perfect equality where everyone has the same income, and 1 means perfect inequality where all the income is received by a single individual.
  • Graphical Representation of the Gini Index (Lorenz curve)
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What is Gini coefficient used for?a)To measure income equalityb)To measure income inequalityc)To measure distribution of incomed)To measure profit and losse)None of the above/ More than one of the aboveCorrect answer is option 'B'. Can you explain this answer?
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