The Figure Given Below Shows the Lorenz Curves of Two

question 81

Multiple Choice

The figure given below shows the Lorenz curves of two countries (Country A and Country B) .Figure 19.2
Total income (cumulative percentage)
Total population (cumuative percentage)

-A major problem with household data is that:

• A)the income of the households vary greatly.
• B)the households usually vary in their consumption patterns.
• C)the households usually comprise of only one individual.
• D)collecting data from the households is highly inconvenient.
• E)the number of persons per household varies greatly.

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Definitions:

Freight Costs

Expenses incurred by a company to transport goods from one place to another, such as shipping charges for receiving or sending out inventory.

Trade Discount

A reduction in the list price granted by a supplier to a buyer, often based on the volume of goods purchased or to maintain a competitive advantage.

Free On Board

A shipping term indicating whether the seller or the buyer is responsible for goods that are damaged or destroyed during shipping.

Sales Tax

A government-imposed charge on the sale of goods and services.