Lesson 15: Home
Distribution of Income
Objectives
At the end of this lesson, you will be able to:
- Explain how marginal product influences the demand for factors of production
- Analyze the important factors that influence the labor market and how they impact supply and demand for labor
- Explain how rates of return on capital, land, and nonrenewable natural resources are determined
- Articulate economic definitions of poverty and inequality in the United States
- Explain how government redistributes income to address economic inequality and poverty
Read
Foundations of Microeconomics:
- Chapter 19, "Markets for Factors of Production" (pp. 483–506)
- Chapter 20, "Economic Inequality" (pp. 507–532)
View
Online Lesson Presentation
Complete
Quiz Practice 15
Test Practice 5
Prepare
Visit Tutoring by Smarthinking to review lesson concepts
Assessments
Quiz 15
Test 5