If I was going for gold farming, would I be more likely to get more gold from 1 or 2 minion waves or a champion kill/assist? I understand that killing champions is important for disrupting the enemy team and that I should be present for as many teamfights as possible, but what should I really focus on early game? I don't want to b at a disadvantage because I got 1 or 2 waves of minions but my opponent ganked mid and got a kill, came back and showed me his new items; resulting in my death.
From what I've noticed, you get an average of 21 gold per minion, 8 minions per wave.
An average kill is 260 gold and 2 waves is 336 gold (at least this how it was a year ago)
However, more assists/kills you have the more the enemy gains if he kills you so basically a person who's on a killing spree is worth more to kill than 2 waves of minions.
I'd say the new item came from being able to simply go back before you, not that he had more gold than you unless the person he killed was worth a lot.
You have to weight your chances.
Kills and assists give non-trivial amounts of gold. Here's some math:
Early game, each minion is about 17 gold so that's about 102 gold per wave and 136 for waves with siege minions = average 119 gold per wave.
Kills are worth 300 gold and a single assist is 175 gold.
If wandering away from your lane gives you a reasonable chance of killing, I'd say do it. You also have to make sure to push your lane before leaving, or else your tower will deny you a lot more minions that you would lose otherwise. You also should consider not just the gold gained but also the lane advantage given to whoever you helped. Killing an enemy also denies them gold so that should be factored in as well.
Try to focus on killing minions in the beginning of the game. Stick to the basics of last hitting. Try to zone the enemy by using your champion's abilities to prevent them from getting minion kills. If the enemy is pushing your lane try to look for a gank from your jungler.
A good minion kill rate is about
Try to buy wards with your spare cash. It can be very vital to spot an enemy jungler attempting to gank you.