Question : The study of the distribution of income and wealth in society is primarily associated with:
Option 1: Microeconomics
Option 2: Macroeconomics
Option 3: Labor economics
Option 4: Social economics
Correct Answer: Social economics
Solution : The correct answer is (d) Social economics.
Social economics is a field that examines the relationship between economics and social factors. It focuses on studying the social aspects of economic phenomena, including income distribution, wealth inequality, poverty, social welfare, and the impact of economic policies on social well-being. Social economics incorporates insights from various disciplines, such as sociology, psychology, and political science, to understand how economic factors interact with social structures and influence outcomes in society. The study of income and wealth distribution is a key topic within social economics as it delves into the uneven distribution of resources and its implications for social welfare and equity.
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