What is measurement of inequality? Describe causes and effects of inequality.

Measurement of Inequality

Inequality is a multifaceted concept that encompasses various aspects of uneven distribution of resources, opportunities, and outcomes within a society. To understand and address inequality effectively, it is crucial to measure and quantify its extent. Several measures and indices have been developed to capture different dimensions of inequality. Here are some commonly used measures:

1. Gini Coefficient: The Gini coefficient is a widely used measure of income or wealth inequality within a population. It ranges from 0 (perfect equality) to 1 (perfect inequality), with higher values indicating greater levels of inequality. The Gini coefficient is calculated based on the Lorenz curve, which plots the cumulative share of income or wealth against the cumulative share of the population.

2. Income Quintile Ratio: This measure compares the income or consumption levels of the richest 20% of the population with the poorest _________ ______ ____ _____ _________ __________ _________ ____ ____ _____.
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