Economy, asked by sidharthnavale4369, 11 months ago

What are main merits of lorenz curve?

Answers

Answered by Anonymous

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●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.

●In such use, many economists consider it to be a measure of social inequality.

Answered by gratefuljarette

Explanation:

Lorenz curve is taken from the Latin name 'Laurentius' which means laurel. It was founded by Max O. Lorenz to show the the different aspects of 'income' distribution.
Lorenz curve is used in economics as a graph for depicting the inequality in 'income' and its distribution. The graph can also be used for showing comparisons in other systems of production
The Lorenz curve is normally used by the government for finding out techniques of assessing the inequality of 'wealth' distribution in the country. It is a method that helps them to find methods of taking care of problem

To know more about inequality of wealth

Discuss the government policy to reduce inequalities of income and wealth in India.

https://brainly.in/question/9091872

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