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Lorenz Curve and Gini Coefficient definitions

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Termini in questo insieme (15)

  • Lorenz Curve
    Graphical representation showing cumulative income distribution among households, highlighting disparities between population segments.
  • Gini Coefficient
    Numerical measure quantifying income inequality, ranging from 0 for perfect equality to 1 for complete inequality.
  • Quintile
    Population segment representing 20% of households, used to analyze income distribution from poorest to richest.
  • Cumulative Percentage
    Total value obtained by sequentially adding percentages, applied to both households and income in inequality analysis.
  • Line of Equal Distribution
    Diagonal graph line depicting a scenario where every population segment receives an equal share of income.
  • Income Inequality
    Disparity in income allocation among population groups, visualized through curves and coefficients.
  • Complete Inequality
    Situation where all income is concentrated in a single household, leaving others with none.
  • Area A
    Region between the Lorenz curve and the line of equal distribution, used in calculating the Gini coefficient.
  • Area B
    Region below the Lorenz curve and above the horizontal axis, essential for Gini coefficient computation.
  • Horizontal Axis
    Graph axis representing cumulative percentage of households, progressing from poorest to richest.
  • Vertical Axis
    Graph axis indicating cumulative percentage of income, used to plot income distribution.
  • Line of Unequal Distribution
    Graph line illustrating extreme income concentration, where only one household receives all income.
  • Ratio
    Mathematical relationship comparing two areas on the graph, forming the basis for the Gini coefficient.
  • Slope
    Steepness of a graph line, with a slope of 1 indicating perfect equality in income distribution.
  • Distribution
    Pattern of income allocation across population segments, central to understanding economic inequality.