Measuring inequality

Question 1

Lorenz curve

Answer 1

Used to measure inequality, used to represent the the distribution of income

Question 2

Gini Coefficient

Answer 2

A number between 0 and 1 that measures the degree of inequality in the distribution of income and wealth. 1 = one person gets everything. 0 = complete equality.
The higher the coefficient, the more unequal the distribution is.