GINI INDEX
\d͡ʒˈɪni ˈɪndɛks], \dʒˈɪni ˈɪndɛks], \dʒ_ˈɪ_n_i_ ˈɪ_n_d_ɛ_k_s]\
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Based on Lorenz Curve, a standard economic measure of income inequality. Perfect equality in income distribution scores 0.0 on the Gini scale for that society. Higher the inequality, higher the number over 0. If only one person has all the income, a score of 1.0 (or 100) indicates total inequality. Market share inequality and other distributional inequalities can be measured this way. The Italian statistician Corrado Gini (1884-1965) is its inventor. Known also as Gini coefficient or index of concentration.
By Henry Campbell Black
Word of the day
basidiomycota
- comprises fungi bearing the spores on basidium: Gasteromycetes (puffballs); Tiliomycetes (comprising orders Ustilaginales (smuts) and Uredinales (rusts)); Hymenomycetes (mushrooms; toadstools; agarics; bracket fungi); in some classification systems considered a division of kingdom comprises fungi bearing spores on a basidium; includes Gasteromycetes (puffballs) Tiliomycetes comprising the orders Ustilaginales (smuts) and Uredinales (rusts) Hymenomycetes (mushrooms, toadstools, agarics bracket fungi).