What does the Lorenz curve measure in the economy?

Question

Mathematics

Yellow

12 June, 19:54

What does the Lorenz curve measure in the economy?

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Answers (2)

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Taylor Mcneil · Answer 1

a graphical representation of the distribution of income or of wealth.

Donavan Burch · Answer 2

The correct answer on Edgen is:

It illustrates income distribution. In economics, the Lorenz curve is a graphical representation of the distribution of income or of wealth. It was developed by Max O. Lorenz in 1905 for representing inequality of the wealth distribution. The curve is a graph showing the proportion of overall income or wealth assumed by the bottom x% of the people, although this is not rigorously true for a finite population.

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