1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
wolverine [178]
3 years ago
6

What does the Lorenz Curve illustrate about the economy?

Business
1 answer:
Alex_Xolod [135]3 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
A good’s price elasticity of demand depends in part on how necessary it is relative to other goods. If the following goods are p
Elza [17]

Answer:

2) Chemotherapy for cancer patients

Explanation:

Chemotherapy for cancer patients is a basic necessity needed for the patient to continue living, so if the price of chemotherapy increases or decreases will not affect the patient's choice of getting it. What can affect the patient's decision is whether he/she can afford the treatment, but even if he/she can't they will seek other ways of trying to obtain it, e.g. going to public hospitals.

5 0
3 years ago
In the country of Mashwen, the state owns key industries such as energy and transportation. The rest of the industries are priva
zzz [600]

Answer:

Mixed economy.

Explanation:

In the country of Mashwen, the state owns key industries such as energy and transportation. The rest of the industries are privately owned. Mashwen is a <u>Mixed</u> economy.

Mixed economy: It is a shared economy system, which has equal role of private enterprises and public enterprises. In the current global market, most of the economy are mixed economy. It allow private enterprises with equal opportunity to participate in the market, it create healthy competition among different player and buyer can have variety of product at low price.

8 0
3 years ago
What are the benefits an organization can receive from the adoption of a risk management system?
IceJOKER [234]

Preventative hazard administration packages furnish larger perception into insurance, indemnity and legal responsibility troubles and enable the organization to higher focus and structure its inquiry.

<h3>What are the advantages of threat management in an organization?</h3>

Benefits of threat management consist of the following:

multiplied attention of threat throughout the organization;

greater confidence in organizational objectives and goals due to the fact threat is factored into strategy;

higher and more efficient compliance with regulatory and interior compliance mandates due to the fact compliance is coordinated;

<h3>What is the primary reason of risk management?</h3>

The purpose of hazard management is to discover conceivable issues before they occur, or, in the case of opportunities, to attempt to leverage them to cause them to occur. Risk-handling activities may additionally be invoked at some stage in the existence of the project.

Learn more about risk management here:

<h3>brainly.com/question/17175271</h3><h3 /><h3>#SPJ4</h3>
4 0
2 years ago
Which of the following is a disadvantage of equity capital?
Blababa [14]
Norge answer ishhhhhnxmjdnshei
4 0
3 years ago
Sally’s parents deposited $15,000 into a college savings account on her third birthday. The account had an interest rate of 9.6%
kozerog [31]

Answer:

The correct option is yes,the $15,000 will double each 7.5 years.In 15 years ,it will double twice.

Explanation:

The 72 rule stipulates that the number of years it would take an investment to achieve accumulate a certain amount- future value, can be computed by dividing 72 by the interest rate earns by the investment

N, the number of years=72/9.6

                                      =7.5 years

Invariably,in 7.5 years' when Sally would have been 10.5 years(3 years now+7.5 years) the investment would have doubled.

By another 7.5 years when Sally would have been 18 years(10.5 years +7.5 years), the investment would have doubled twice.

The 72 rule is fast-track approach to calculating the duration of an investment.

7 0
3 years ago
Read 2 more answers
Other questions:
  • Investing in a global stock fund is a good idea to:
    12·1 answer
  • Steve Jobs was a strong, charismatic leader who co-founded Apple and is credited with much of the success of the company. Some b
    11·1 answer
  • A container of bolts, currently located in Houston, TX, needs to be delivered to a facility in Sioux Falls, SD. The standard gro
    15·1 answer
  • Consumers create a demand for something by
    5·1 answer
  • Select the correct answer.
    5·1 answer
  • Tim and Tammy are updating their financial plan and are concerned that they might not have enough life insurance coverage for th
    14·1 answer
  • g Suppose a carton of hockey pucks sell in Canada for 105 Canadian dollars, and 1 Canadian dollar equals 0.71 U.S. dollars. If p
    5·1 answer
  • This is for people who have a ps4.
    8·2 answers
  • Last year Wei Guan Inc. had $795 million of sales, and it had $265 million of fixed assets that were used at 65% of capacity. In
    13·1 answer
  • a hospital has not insured itself for malpractice claims with a third-party insurer. which of the following statements best expr
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!