Gini coefficient
The Gini coefficient is a way of measuring how unequal a country's wealth is. We calculate it by looking at the money that people have.
Imagine that we have a country with 10 people, and each of them has a different amount of money. The Gini coefficient would measure how much of the total money everyone has. We do this by looking at how different the amounts of money are between each person.
The Gini coefficient is then a number between 0 and 1. A Gini coefficient of 0 means that everyone has the same amount of money (so everybody is equal), while a Gini coefficient of 1 means that one person has all the money and the rest have none (so everybody is unequal).
Imagine that we have a country with 10 people, and each of them has a different amount of money. The Gini coefficient would measure how much of the total money everyone has. We do this by looking at how different the amounts of money are between each person.
The Gini coefficient is then a number between 0 and 1. A Gini coefficient of 0 means that everyone has the same amount of money (so everybody is equal), while a Gini coefficient of 1 means that one person has all the money and the rest have none (so everybody is unequal).
Related topics others have asked about: