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What is meant by income inequality? Distinguish between personal and functional distribution of income.

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Q: What s meant by income inequality.distinguish between personal and functional distribution of income.?
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What is the difference between personal and functional distribution of income?

The personal distribution of income shows how income, regardless of its source, is divided by quintiles among all the families in the country. The functional distribution of income shows the sources of income, as payments to the four factors of production: labor, entrepreneurs, physical capital, and land (natural resources). The breakdown is: wages and salaries, proprietors' income, corporate profits, interest, and rents.


What is the difference between functional and decorative accessories?

the difference between functional & decorative, is that functional is when a certain accessory is actually used, while decorative is just for showing something


What are the differences between discrete and continuous distribution?

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A simple continuous distribution can take any value between two other values whereas a discrete distribution cannot.


What is the difference between a normal distribution and the standard normal distribution?

The standard normal distribution is a normal distribution with mean 0 and variance 1.


Distinguish between binomial distribution and normal distribution?

Normal distribution is the continuous probability distribution defined by the probability density function. While the binomial distribution is discrete.


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What is the difference between functional art and a non functional art?

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What is the difference between line organization and functional organization?

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