Comprehension Passage

Read the following passage carefully and answer the question given below.

Distribution of resources over individuals or over space is seldom uniform. Sometimes it is a geographical variation that causes inequality in the distribution of resources and sometimes these inequalities are caused by manmade policies also. Measurement of inequality in the distribution of income or any other variable like the distribution of land among people and population or location of various facilities over space has always been the concern of scholars. Measures like standard deviation, skewness, location quotient index of dissimilarity, Lorenz Curve, Ginni’s Concentration Ratio, etc. are a few well-known and useful indices serving this purpose. Lorenz curve has since long been used to measure the inequality in the distribution of wealth or income in societies. It has also been used to show the inequalities in the distribution of several social facilities over space, the concentration of population, other demographic attributes, etc. The basis of the Lorenz Curve is to compare the cumulative percentage distribution of one variable in relation to the cumulative percentage distribution of another variable at different stages.

Given below are two statements

Statement 1: Lorenz curve was introduced first by Lorenz in 1905.

Statement 2: Lorenz curve is not a graphical representation but a mathematical representation.

In light of the above statements. choose the correct statements.

1
1 only
2
1 and 2
3
2 only
4
None of above

Sponsored

hivanix.in

Visit

This quiz is brought to you by hivanix.in

🌐 Web App Development

Quick Navigation