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Bihar Police Constable Model Paper 5
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Question : 19
Total: 100
What is Gini coefficient used for?
To measure income equality
To measure income inequality
To measure distribution of income
To measure profit and loss
Validate
Solution:
Gini Coefficient represent the Distribution of Income.
It 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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