What Is a Lorenz Curve and What Is a Gini

question 51

Essay

What is a Lorenz curve and what is a Gini coefficient?

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Definitions:

Outsourcing

“Contracting out” or transferring to another country the labor that a company might otherwise have employed its own staff to perform; typically done for financial reasons.

Commodity Chains

The network of production and distribution processes through which a product passes until it reaches the consumer, often spanning multiple countries.

Sweatshop

A workplace where workers are subject to extreme exploitation, including below-standard wages, long hours, and poor working conditions that may pose health or safety hazards.

Race To The Bottom

A socio-economic phenomenon where countries or companies compete by undercutting each other in standards, such as labor rights and environmental regulations, to attract business.