In this thesis, we introduce and study a new Pareto-Type distribution,deriving some of its probabilistic and inferential properties. we obtain additional and important properties of this distribution and derive simpler expressions of relevant inequality indices and risk measures. One important feature of this distribution is that many of these expressions are simple functions of the incomplete beta function. Using this result, we obtain closed expressions for the moments and for several inequality measures including the Lorenz curve and the Gini index, the Pietra index, the Donaldson-Weymark-Kakvani index and the generalized entropy measures. Basic risk measures are also obtained. Finally, empirical application with real data are given.