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Poverty — Economics STD 12 Commerce — Question

CBSE BoardEnglish MediumSTD 12 CommerceEconomicsPoverty1 Mark
Question
Explain Gini Co-efficient.
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Answer

The Gini Co-efficient was proposed by Italian statistician Corrado Gini in 1912 as a measure of inequality of income and wealth, i.e. as a measure of relative poverty. The coefficient varies between 0 which reflects complete equality, and I which indicates complete inequality. India's Gini Index is 0.339.

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