If the random variable y denotes an individual’s income, Pareto’s law claims that<u> P(Y>=y)= (k/y) raised to the power of 9</u>. Here k refers to the minimum income of the entire population.
Pareto's law states that for different outcomes, almost eighty percent of the results come from the twenty percent of the causes of the event. We also call it the 80/20 rule or the rule of the vital few or even the principle of factor sparsity.
Joseph M. Juran, a management consultant developed this concept keeping in mind the context of quality control as well as improvement after he read the works of the Italian economist Vilfredo Pareto.
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Buildup of armaments in preparation for war
Town lifestyle (I assume you mean by this: a settled lifestyle , so that it contrasts with the nomadic lifestyle) comes with more security: you can store your food reserves and plan for the future.
nomadic lifestyle gives you more flexibility but less security: you can travel elsewhere if your fodosource is runnign low... but usually this is not as good of a food source as a settled lifestyle. One other possible advantage could be being merchants: nomads can benefit from a trade.
D. The fear of the spread of Communism
Answer:
The first way to split economics is microeconomics and macroeconomics.
Microeconomics – concerned with individual markets and small aspects of the economy.
Macroeconomics – concerned with the whole aggregate economy. Issues such as inflation, economic growth and trade.
Explanation: Hope the picture helps