What is the importance of the Lorenz curve?

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. You can read about the Lorenz Curve: Definition, Explanation and Relevant Questions in the given link.

The Lorenz curve was developed by Max O. Lorenz in 1905

Further readings:

  1. Gini Coefficient – Definition, Calculation and India’s Rankings
  2. Income Inequality In India: Background, Factors and Conclusion

Related Links

Pradhan Mantri Mudra Yojana (PMMY) – A Complete Overview

Financial Inclusion – National Strategy for Financial Inclusion [UPSC GS-III]

Kuznets Curve: Kuznets Ratio, Explanation, Drawbacks

Indian Economy Notes For UPSC Exam And IAS Exam [Download PDFs]

UPSC Mains General Studies Paper-III Strategy, Syllabus & Structure

Previous Years Economics Mains Questions in UPSC Civil Service Exam, General Studies Paper – 3

Leave a Comment

Your Mobile number and Email id will not be published. Required fields are marked *

*

*