F583 Market failure...
- Created by: faatimah
- Created on: 01-04-14 09:08
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Clues
- a diagram commonly used to illustrate income or wealth distribution, named after the American statistician Max Otto Lorenz (6, 5)
- a market with a single buyer and seller (9, 8)
- a single buyer (11)
- one of a few dominant buyers (11)
- proportion of the population who are too young, too old or too sick to work and so who are reliant on the output of those who are working (10, 4)
- the inability to purchase the basic necessities of life (8, 7)
- used to make international comparisons of income inequality. It is found by using a lorenz curve (4, 11)
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