Unit 3.4 · Economics of Inequality and Poverty
Measuring Inequality
AO2AO4Diagram required
Syllabus Requirement
Using the Lorenz curve and Gini coefficient to evaluate income distribution.
Assessment Objectives
AO2Application and Analysis
AO4Use of Appropriate Skills
Summary
Measuring economic inequality involves assessing how national income is distributed among different segments of the population. This is important for understanding the extent of income disparities within an economy and can be quantified using statistical methods such as deciles and quintiles.