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Q. Distribution of income?
Distribution:Distribution of income reflects the process by which real output of services and goods produced by the economy is allocated to different groups of people andindividuals. Distribution can be measured across individuals (comparing low-income and high-income households) or across classes (comparing the incomes of workers, capitalists and small businesses).
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Use of Income elasticity of demand: Income elasticity of demand on the other hand, has the following uses (i) Income elasticity of demand shows how the pattern of consumer de
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