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What does the Lorenz curve indicate?...

What does the Lorenz curve indicate?

A

Relationship between the price of a certain commodity and its demand.

B

Income distribution

C

Rate of employment

D

Taxable income elasticity

Text Solution

Verified by Experts

The correct Answer is:
B
The Lorenz curve is a graphical representation of the distribution of income or of wealth. The graph represents the population percentile on X-axis and Y-axis

represent the cumulative frequency
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PINNACLE-ECONOMICS-MCQ (COSTS, PRODUCTION,CONSUMPTIONS AND MARKET)
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  2. What does the Lorenz curve indicate?

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  3. An economic condition when there is one buyer and many sellers is call...

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  4. What is the name given to the graph that shows all the combinations of...

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  5. Which economist gave the theory of Opportunity cost?

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  6. When the output is equal to zero, the variable cost is .

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  7. What is the value of all tangible resources such as raw materials and ...

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  8. A marketplace in which a final goods or service is bought and sold is ...

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  9. A market structure which is dominated by only a small number of firms ...

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  10. In Economics, buying an asset in one market and simultaneously selling...

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  11. The shows all the combinations of two commodities that a consumer can...

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  12. Which of the following is not included in the factors of production ?

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  13. Pricing Policy of Minimum support price follows which approach?

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  14. The expenses leading to the increment in production capacity are which...

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  15. In the context of capital markets , the abbreviation ‘FPO’ stands for:

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  16. The 'transformation curve' is also known as the:

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  17. refers to money that has already been spent and which cannot be recove...

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  18. Which of the following is NOT a central economic problem, solved by th...

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  19. What is Gini coefficient used for?

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  20. A higher index represents inequality in income distribution.

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