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Instructions: Identify the terms and briefly state their historical significance..
Pagan
Redistribution of Income
Economic policies or mechanisms intended to adjust the distribution of wealth or income in a society.
Income Equality
Income equality refers to a scenario where earnings are distributed evenly across a population. It is the opposite of income inequality where earnings are unequally distributed.
Economic Efficiency
A measure of how well resources are utilized and allocated to maximize productivity and meet the needs and wants of society.
Quintile Distribution
The division of a population or dataset into five equal groups or parts, often used in economic studies to analyze income or wealth distribution.
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