Principles of Microeconomics / Unit 14 MIC 1307 short lesson, about 20 seconds
Quintiles and the Lorenz Curve
Captions available
The idea
Cut ranked households into fifths and record each fifth's income share. The Lorenz curve plots cumulative household share against cumulative income share; the diagonal is perfect equality, and the more it bows below, the more unequal.
In practice
Bottom two fifths at eleven percent: the point forty, eleven.
Where people slip
Plot cumulative shares, not each fifth's own; the last point is one hundred, one hundred.
Your place on the trail
Every lesson rests on earlier ones and opens later ones. Tap any to jump.
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