All categories

2 years ago

What does the Lorenz Curve illustrate about the economy?

Business

1 answer:

Alex_Xolod [135]2 years ago

6 0

Answer:

Lorenz curve can be understood as a graphical representation of distribution of wealth or income among the population in a given economy.

Explanation:

Lorenz Curve was proposed by Max O. Lorenz in the year 1905 to represent inequality in the distribution of income among the given population. This curve illustrates that the distribution of wealth is not equal, where one section of the population has all the wealth or income of the economy and the other section of the population is left with none. Whereas in the case of perfect equality, each section of the population should receive an equal amount of wealth of the economy. This means that N% of the society should always have N% of income and not more and not less than that. Thus, this situation is hypothetical and thus, the idea of the Lorenz Curve comes into consideration.

You might be interested in

An effective team would never have ______. a. Multiple long term goals b. A series of coordinated deadlines c. Unclear definitio

ElenaW [278]

C. It is very important to clearly define your goals in order to function better.

8 0

2 years ago

Read 2 more answers

Ariel wants to compare the salaries for positions she was offered at two companies. What should she consider in this process?

german

Answer:

She should research the cost of living of different locations to compare against the offered salaries.
She should research the benefits included in each offer.

She should research the average salary of similar positions to see if the offers are fair.

Explanation:

Remember, the cost living at the different locations is good basis to determine how much the actual value of he salary will be worth. For instance if location A pays her $5000 a month and her living expenses from the location takes about $4500, while location B pays her $3500 a month with a living expense of $1000, then she rather goes for location B she has more extra income.

Secondly, the benefits included in salaries is also to be considered. Does it includes medical insurance, transport allowance etc.?

Third the average industry pay level would also help Ariel know whether to accept any of the offers or not.

8 0

3 years ago

Read 2 more answers

Later movers do not face: entrenched competitors. reduced uncertainty over technologies. high growth markets. lower market uncer

Maksim231197 [3]

Later movers do not face high growth markets. Later movers are also referred to late followrs or later market entrants. These businesses enter the market after the market has been established. By joining the market later, they have an advantage because they can see what kinks have been worked out by other companies, what has worked and was hasn't worked.

5 0

2 years ago

A network good is a good that people benefit ______ from as ______ people use it.

melamori03 [73]

A network good is a good that people benefit more from as more people use it.

‍BALTIMORE, MD (January 5, 2022) – Camden Partners today is a Strategic Fund V Portfolio Company, a Certified B Corporation, and a leading provider of cloud-based fundraising software for nonprofits. Network for Good announced that it has entered into an agreement to acquire. Founded by Social Good Software Platform backed by Apax.

Network Good is a licensed US software company owned by B Corporation that provides fundraising software and coaching to charities and nonprofits. The company he founded in 2001 by America Online, Cisco Systems, and Yahoo! Since its inception, it has processed over $2.2 billion in donations.

Learn more about networking good at

brainly.com/question/1027666

#SPJ4

5 0

1 year ago

Which business plan section is being described?

vesna_86 [32]

Answer:

Marketing and sales strategy

Explanation:

3 0

3 years ago