Measuring Inequality of Income: Top 2 Methods | Economics
The following article will guide you about the two main methods adopted to measure inequality of income. The methods are: 1. The Lorenz Curve 2. The Gini Ratio. Method # 1. The Lorenz Curve: The Lorenz Curve is obtained by plotting the cumulative percentage of the nation's income against the cumulative percentage of the nation's households or population receiving this [...]