The distribution of wealth and income within a society is the focus of the theory of distribution, a subfield of economics. It focuses  on comprehending how assets, including money, wealth, and oppurtunities, are distributed among people and different economic agents. 

Here are some essential terms and notions associoted with the Theory of Distribution :

1. Revenue Distribution : The division of a society's total revenue among its members is referred to as income distribution. It looks at the distribution of profits, salaries, wages,and other forms of income among various people or organizations.

2. Production elements : The Theory of Distribution examines the benefits gained by the various production elements, including labor,capital,land, and entrepreneurship. It aims to clarify how these elements affect income generation and how incentives are dispersed among them.

3. Functional Distribution : The split of the national revenue among the production factors is referred to as the functional distribution of income. In order to determine how much each item contribute to the production process, it looks at the percentage of income that goes to wages, rents, interest, and profits.

4. Personal Distribution :The division of income among individuals or families within a society is the topic of personal distribution. In addition to examining characteristics like education,occupation,skills,and social mobility that affect personal income distribution, it also looks into income disparties, inequality , and poverty levels.

5. Both the Lorenz Curve and the Gini coefficient are frequently used metrics for assessing income inequality. The Lorenz curve illustrates the distribution of income by plotting the cumulative proportion of income versus the cumulative share of the population. The Lorenz curve is used to calculate the Gini coefficient, a number that ranges from 0 to 1, with 0 denoting perfect equality and 1 denoting the greatest inequality.

6. Policies for wealth and income redistribution are also examined by the Theory of Distribution, which also consider their effects. Progressive taxation, welfare programs, minimum wage regulations, social security  systems, and other efforts to lessen income inequality and enhance social welfare are a few examples of these policies.

7. Economic Modality : The study of economic mobility, which refers to people's capacity to move uo or down the income ladder through time , is a crucial component of the Theory of Distribution . It examines the variables that influence mobility, including education, skills, heredity, and economic structural changes.

8. The normative conceptions of justice, such as the idea of " justice as fairness"  put forth by philosopher John Rawals, are connected to Rawlsian Justice. The Theory of Distribution as well. In his defense of a society where income and wealth disparities are acceptable, Rawls emphasizes the value of social welfare and equal oppurtunity for all menbers of society.

The Theory of Distribution offers a framework for comprehending the distribution of income and wealth, including its petterns, causes, and effects also has implications fr social fairness and economic policy.