Measure distribution of thing your interested in. E.g.  Share of largest firms in an oligopolistic industry, e.g share of top eight, sixteen etc  distribution.

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Presentation transcript:

Measure distribution of thing your interested in. E.g.  Share of largest firms in an oligopolistic industry, e.g share of top eight, sixteen etc  distribution of income in an economy –Work with example of Distribution of Income Measure distribution of thing your interested in. E.g.  Share of largest firms in an oligopolistic industry, e.g share of top eight, sixteen etc  distribution of income in an economy –Work with example of Distribution of Income Lorenz Curve and Gini Coefficient Ch 10

Lorenz curve O 100 O Line of complete equality Percentage share of national income (cumulative) Percentage of population

INEQUALITY AND POVERTY Distribution in the UK – –size distribution – –Looking at Quintile Groups:   Divide population into 5 equal groups (by number of people) Distribution in the UK – –size distribution – –Looking at Quintile Groups:   Divide population into 5 equal groups (by number of people)

Size distribution of UK income by quintile group of households: 1997/8 Bottom 20% Next 20% Middle 20% Next 20% Top 20% 15% 25% 51% 7% 2% Bottom 20% Next 20% Middle 20% Next 20% Top 20% 11% 16% 22% 44% 7% Income before taxes and benefits Income after taxes and benefits

O 100 O Line of complete equality Lorenz curve Percentage share of national income (cumulative) Percentage of population Lorenz curve

Lorenz curve and Gini coefficient O 100 O Line of complete equality Lorenz curve A B Percentage share of national income (cumulative) Percentage of population Gini coefficient = A / (A + B)

O 100 O Line of complete equality Lorenz curve Percentage share of national income (cumulative) Percentage of population Lorenz curve

O 100 O Line of complete equality Lorenz curve Percentage share of national income (cumulative) Percentage of population Lorenz curve