gini index Europe Union 2020

The Gini index is like a score that shows how equally or unequally money is distributed among people or households in a country. calculate: Imagine a line representing perfect equality, where everyone has the same amount of money. Then you compare that line to the actual distribution of money using something called a Lorenz curve. The Gini index measures the difference between the two lines. A Gini index of 0 means perfect equality, where everyone has the same amount of money. A Gini index of 100 means perfect inequality, where one person has all the money and everyone else has none. The Gini index is important because it helps us understand how fair or unfair a country's economy is. A lower Gini index indicates a fairer distribution of wealth, while a higher index indicates more inequality. The Gini index is a way to see how fairly money is distributed among people in a country. A lower value means more fairness, while a higher value means more inequality.