Terms Beginning With 'l'

Lorenz Curve

  • January 17, 2020
  • Team Kalkine

The Lorenz curve was established in 1905, by an American economist Max Lorenz. It is a graphical depiction of wealth or income inequality. In the Lorenz curve, the percentiles of population according to wealth or income remains on the horizontal axis, and cumulative wealth is plotted on the vertical axis.

Most commonly, Lorenz Curve is used for economic inequality representation; however, it can also be used to demonstrate unequal distribution in any system.

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