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Nation's Total Income
The total amount of money earned within a country from the production of goods and services, before taxes and other deductions.
Utility
A measure of satisfaction, usefulness or pleasure a consumer obtains from consuming a good or service.
Redistribution of Income
A policy or practice by which income is redistributed from wealthier segments of society to poorer ones through mechanisms like taxation and government spending.
Income Distribution
The way in which a nation’s total income is spread among its population, often analyzed to understand the extent of economic inequality.
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