What Are the 5Ss? Why Does the List of the 5Ss

question 23

Essay

What are the 5Ss? Why does the list of the 5Ss sometimes have seven elements?

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Definitions:

Lorenz Curve

A graphical representation of income inequality within a population.

Poverty Rate

The percentage of the population that lives below the national poverty line, indicating the proportion of society experiencing poverty.

Income Distribution

The way in which a country’s total income is divided among its population, affecting economic equity and standard of living.

Gini Ratio

is a measure of income inequality within a population, ranging from 0 to 1, where 0 signifies perfect equality and 1 reflects absolute inequality.