EQUITY IN INCOME DISTRIBUTION

EQUITY IN INCOME DISTRIBUTION Wc have studied above the general thcory of income distribution. Two questions arise: (oj Is the distribution equitable, fair and just’! (II) Why is there inequality of incomes? The first question is ethical and involves value...

Supply Side

Supply Side The supply curve of a factor of production depends on the various conditions governing its supply. Take the case of labour-a very important productive service. The supply of labour depends on the size and composition and geographical distribution....

MODERN THEORY OF DISTRIBUTION

MODERN THEORY OF DISTRIBUTION The marginal productivity theory, which we have discussed above only tells us how many workers will an employer engage at a given wage-level in order to maximize his profit. It does not tell us how that wage-level is determined. We also...

Conditions of MONOPSONY

Conditions of MONOPSONY A monopolistic situation, inter alia. may arise in the following ways: (i) Units of a factory may become specialized to a particular use. Having become thus specific, they have no use for other purposes. For example. a   of specialist skill may...