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What s meant by income inequality.distinguish between personal and functional distribution of income.?
Wiki User
∙ 11y ago
What is meant by income inequality? Distinguish between personal and functional distribution of income.
Wiki User
∙ 11y ago
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What is the difference between personal and functional distribution of income?
The personal distribution of income shows how income, regardless of its source, is divided by quintiles among all the families in the country. The functional distribution of income shows the sources of income, as payments to the four factors of production: labor, entrepreneurs, physical capital, and land (natural resources). The breakdown is: wages and salaries, proprietors' income, corporate profits, interest, and rents.
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What is the difference between functional and perceptual regions? i want my answere soon please and thank you
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