Business Economics
Income redistribution refers to the transfer of income and wealth from certain individuals or groups to others, often implemented through government policies and programs. This process aims to reduce economic inequality and provide support to disadvantaged populations by altering the distribution of resources in a society. Income redistribution can take various forms, including taxation, social welfare programs, and public services that benefit lower-income individuals.
congrats on reading the definition of income redistribution. now let's actually learn it.