Relationship between Lorenz curve and Gini coefficient is the more the Lorenz line curves away from the line of equality, the greater the degree of inequality represented.

the distribution of income

The Lorenz curve has a major disadvantage of not showing the distributions exact value. It is also makes it difficult to compare different data sets.

No.The Lorenz curve measures inequality of distribution of income (or wealth). The diagonal represents a distribution that is perfectly equal and you cannot get more equal than that!

The Lorenz curve was developed by Max O. Lorenz. The Lorenz curve is a visual representation in economics which displays the income distribution of a nation graphically. On the y-axis, you have income distribution (either as a percentage, or in decimal form); on the x-axis, there is population distribution of total wealth. There is an upward sloping, 45 degree reference line that shows perfectly equal distribution of wealth (i.e 25% of the lowest income earners have 25% of the nation's income). From the Lorenz curve, you can calculate the Gini coefficient; the closer the coefficient is to zero, the more distributed the income of a nation is.