Examlex
Which of the following was NOT an innovation initially developed by John Augustus?
Allocation of Resources
The process of distributing scarce resources among various uses or competing demands to maximize output or efficiency in an economy.
Income Distribution
Refers to the way in which total income is shared among the members of a society.
Income Inequality
The uneven distribution of income within a population, leading to gaps between the wealthiest and the poorest individuals.
Income Distribution
The way in which total income is divided among the population or different groups within society, affecting economic inequality.
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