the distribution of income
A production possibilities curve illustrates how efficient an economy is by indicating the possibly opportunities in the economy. This will also illustrate the relevant costs entailed in the production.
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.
the Lorenz curve is the curve that illustrates income distribution, the curve states that there is a big income gap between Americans for many reasons: differences in skills and education, inheritances, and field of work. the wealthiest fifth Americans households earned nearly as much income as the four- fifths combined.
it always rises from left to right
A production possibilities curve illustrates how efficient an economy is by indicating the possibly opportunities in the economy. This will also illustrate the relevant costs entailed in the production.
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 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.
the Lorenz curve
It's true: a curve is a curve. Did you really need me to tell you 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.
the Lorenz curve is the curve that illustrates income distribution, the curve states that there is a big income gap between Americans for many reasons: differences in skills and education, inheritances, and field of work. the wealthiest fifth Americans households earned nearly as much income as the four- fifths combined.
it always rises from left to right
ala kang male
The Production Possibilities frontier/curve