Difference between personal distribution and functional distribution long answer type question
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Answer:
PERSONAL DISTRIBUTION :
Personal distribution focuses on how income is divided among individuals in a country.It focuses on why there is a difference in the income distribution between different groups or classes of people.From this analysis,policies can be developed to deal with unequal income distribution.
FUNCTIONAL DISTRIBUTION :
Functional distribution deals with the amount of income relative to the factors of production.The factors of production are land,labor,capital,and the entrepreneur Functional distribution will look at how much rent a piece of land can get.It will look at how much pay a worker receives.It will also examines how much interest comes from the capital that is invested,and how much profit an entrepreneur can make.
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