What Is Meant by a Perfectly Equal Distribution of Income

question 161

Short Answer

What is meant by a perfectly equal distribution of income? Use a graph to depict such a situation.

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Definitions:

Efficient

Describes a system or process that achieves maximum productivity with minimum wasted effort or expense.

Needed Resources

Essential materials, funds, or personnel required for the execution of a project or the operation of an entity.

Payments

Transactions or transfers of money from one party to another, typically in exchange for goods, services, or to fulfill a financial obligation.

Costs

The expenditure of resources, such as time, labor, and materials, required to achieve an objective or the production of goods and services.