DISTRIBUTION STANDARDS: Three alternative criteria for distributing income to members of society--contributive standard, equality standard, needs standard. A basic notion in economics is that income is generated through production (circular flow). The amount of income generated each year depends on the value of goods and services produced with the economy's limited resources. But once this income is generated it must be distributed to members of society. The contributive, equality, and needs standards are the three primary criteria for distributing income.

     See also | income | wealth | contributive standard | equality standard | needs standard | circular flow | value | income distribution | wealth distribution | equity | poverty |

DISTRIBUTION STANDARDS, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2023. [Accessed: December 2, 2023].

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The logical fallacy of arguing that what is true for the whole is also true for the parts. In the study of economics, this takes the form of assuming that what works for the aggregate, or macroeconomy, also works for parts of the economy, such as households or businesses. The contrasting fallacy is the fallacy of composition.

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