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Question
The theory of distribution relates to which of the following?
The theory of distribution relates to which of the following?
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Solution
The correct option is A Equality in the distribution of the income and wealth
In economics, distribution theory is the systematic attempt to account for the sharing of the national income among the owners of the factors of production-land, labour and capital. Traditionally, economists have studied how the costs of these factors and the size of their return- rent, wages and profits- are fixed. The theory of distribution involves three distinguishinbale sets of questions. First, how is the national income distributed among persons? Second, what determines the prices of the facotrs of production? Thirs, how is the national income distributed proportionally among the factors of production?
In economics, distribution theory is the systematic attempt to account for the sharing of the national income among the owners of the factors of production-land, labour and capital. Traditionally, economists have studied how the costs of these factors and the size of their return- rent, wages and profits- are fixed. The theory of distribution involves three distinguishinbale sets of questions. First, how is the national income distributed among persons? Second, what determines the prices of the facotrs of production? Thirs, how is the national income distributed proportionally among the factors of production?
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