What is the difference between Lorenz curve and Gini coefficient?

The main difference between the Gini coefficient and the Lorenz Curve is that the Gini coefficient helps in measuring the degree of income inequality and the Lorenz curve helps in understanding the distribution of income or wealth in an economy. You can read about the Gini Coefficient – Definition, Calculation and India’s Rankings in the given link.

Further readings:

  1. Lorenz Curve: Definition, Explanation and Relevant Questions
  2. Income Inequality In India: Background, Factors and Conclusion

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