Subjective Questions on Define Pareto 39 s law of income distribution and state its applications How is the Pareto distribut........... for Indian Economic Service Preparation

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Subjective Questions

Define Pareto 39 s law of income distribution and state its applications How is the Pareto distribut...........

Economics-I Welfare Economics
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    Define Pareto's law of income distribution and state its applications. How is the Pareto distribution-related to the Log-normal distribution ? For the Pareto distribution, calculate the Lorenz curve and the Gini coefficient. Explain their meanings. (25 Marks) (300 words)

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