Lorenz curve(redirected from Lorenz Diagram)
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A graph showing what percentage of a population possesses a certain percentage of a thing. For example, a Lorenz curve may show that the top five percent of the people in a country control 40% of the wealth. While it may be used in ecology as well as some other fields, it is frequently used in economics to represent social inequality. It was developed in 1905.
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Lorenz curvesee CONCENTRATION MEASURES.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005