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distribution (D3, L8)<br />1 The division of the NATIONAL !NCOME among the FACTORS OF PRODUCTION in the form of WAGES, PROFITS, !NTEREST and RENT. TURGOT, in his Reflections sur la formation et la distribution des richesses (1766), was probably the first economic writer to examine the distribution as a separate issue. Despite John Stuart MILL's attempt to separate the laws of production from the laws of distribution, there has always been an intimate relationship between distribution and other economic theories. Socialist economists have made the study of distribu- tion a major concern.<br /> 2 The distribution of one type of income between persons or between groups.<br /> 3 The last stage of production in which goods or services reach final consumers.<br /><em>See also:</em> labour's share of national income; post-Keynesians
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Marshallian demand curve (DO) MARSHALL's graphical representation of a demand schedule showing the relationship between two variables, price and quantity demanded, assuming that any other determinants of demand remain the same as prices change. FRIEDMAN and others have discussed the implications of the ceteris paribus assumptions, especially the difficulty of keeping real income constant as prices change.<br /><em>Reference</em><br />Friedman, M. (1953) Essays in Positive Economics, pp. 47-99, Chicago and London: University of Chicago Press.<br /> Marshall, A. (1920) Principles of Economics, 8th edn, Book 3, ch. 3 and Mathematical Appendix, London: Macmillan
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