Question

what are the importance of lorenz curve​

Answer 1

Answer:

The Lorenz curve is important because it helps in understanding economic inequality. When the lorenz curve keeps moving away from the baseline it indicates that the level of unequal distribution keeps increasing.

Answer 2

The importance of the Lorenz curve​ is as follows:

• Lorenz curves and their derivative statistics are frequently used to assess inequality in a population.
• The Lorenz curve is significant because it aids in the comprehension of economic inequity.
• When the Lorenz curve continues to move away from the baseline, it means that the level of unequal distribution is growing.