Gini's Coefficient: Measure of Inequality - Basis, Calculation, Advantages, Disadvantages

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Measurement of Inequality
0 (perfect equality) and 1 (perfect inequality).
Values over 1 are theoretically possible due to negative income or wealth.
A higher Gini index indicates greater inequality, with high income individuals receiving much larger percentages of the total income of the population.
A country in which every resident has the same income would have an income Gini coefficient of 0. A country in which one resident earned all the income, while everyone else earned nothing, would have an income Gini coefficient of 1.
Chapters:
0:00 Gini's Coefficient
0:24 Measure of Inequality
2:12 Negative Income & Negative Wealth
3:58 Perfect Inequality
4:28 Wealth Distribution or Absolute Wealth
10:05 Calculating Gini’s Coefficient
11:41 Advantages of Gini’s Coefficient
13:45 Disadvantages of Gini’s Coefficient
15:32 Lorenz Curve
#giniscoefficient #measureofinequality #negativeincomeandnegativewealth #perfectinequality #wealthdistributionorabsolutewealth #calculatingginiscoefficient #advantagesofginiscoefficient #disadvantagesofginiscoefficient #lorenzcurve #examrace #examrace #upsc #ugcnet

[@padaliyakirankumar7]

this is the detailed video that i was searching.

[@vforvendettaMA]

Great discussion of weaknesses of the Gini

[@majl9585]

Thank you. I just needed someone to explain the equation. Nice video :)

[@youth8386]

Very informative video mam

[@DRMALLIKARJUN]

very useful madam

[@sangeethasangeetha-py7eu]

Mam, pl send reference book for Gini coefficient

[@chinmayamalik5849]

what is the negative income means in real life

[@sonamchoephel2078]

How the value of 10000 came?

[@nchummurry123]

I want to see the later discussion which is the Lorenz curve distribution of income please

[@Examrace]

Covered in the complete course @ www.doorsteptutor.com/Exams/