What term describes the proportion of a population's income that is held by the richest individuals?

The term that accurately describes the proportion of a population's income held by the richest individuals is wealth concentration. This concept refers to how income and wealth are distributed among various segments of the population, highlighting the disparity between the wealthy and the rest. When a small percentage of individuals holds a large portion of total income, it indicates a high level of wealth concentration.

Understanding wealth concentration helps to analyze economic inequality within a society. Economists and policymakers often examine this metric to evaluate the effectiveness of economic policies and to address potential societal issues stemming from significant income inequality. By focusing on how wealth is distributed, stakeholders can work towards solutions that promote more equitable distribution and improve overall economic health. This concept is pivotal in discussions about taxation, social services, and economic reform aimed at creating a more balanced economy.