The Gini Coefficient and Its Advantages
Explore the Gini Coefficient, a measure of income distribution, with its definition, global distribution, and graphical representation on the Lorenz Curve. Learn the advantages it offers, including anonymity, scale independence, and population independence.
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Presentation Transcript
The Gini Coefficient IB Global Politics UWC Costa Rica
The definition A measure of statistical dispersion intended to represent the income distribution of a nation s residents
The definition The Gini coefficient ranges from 0 to 1 1 represents perfect inequality 0 represents perfect equality
Graphical Representation of Gini cofficient on Lorenz Curve
Global Distribution: Gini Cofficient
Advantages Anonymity: it does not matter who the high and low earners are. Scale independence: the Gini coefficient does not consider the size of the economy, the way it is measured, or whether it is a rich or poor country on average. Population independence: it does not matter how large the population of the country is
