Economics World Bank Questions
The concept of economic inequality refers to the unequal distribution of wealth, income, and resources among individuals or groups within a society or across different countries. It measures the disparities in economic well-being, opportunities, and outcomes, such as income levels, education, healthcare, and access to basic necessities. Economic inequality can be measured using various indicators, including the Gini coefficient, which quantifies income inequality within a population. It is a significant concern as it can lead to social and political unrest, hinder economic growth, and perpetuate poverty and social exclusion.