The horizontal axis represents the population, while the vertical axis corresponds to income; hence, with perfect income distribution, the curve will be a 45 degree-line and deviations from that line show the existence of poverty.
The horizontal axis represents the population, while the vertical axis corresponds to income; hence, with perfect income distribution, the curve will be a 45 degree-line and deviations from that line show the existence of poverty. FTP, identify this economic representation for income inequality.
The horizontal axis represents the population, while the vertical axis corresponds to income; hence, with perfect income distribution, the curve will be a 45 degree-line and deviations from that line show the existence of poverty.
{LORENZ CURVE}