Asked by
Tamara Custer
on Oct 27, 2024
Verified
Equity means that:
A) everyone gets an efficient share of the goods and services produced.
B) everyone gets his or her fair share of the goods and services produced.
C) more of some goods and services can be produced only if the production of others is reduced.
D) more of all goods and services may be produced.
Equity
Fairness or justice in the way people are treated within the economy, often in terms of the distribution of wealth.
Efficient Share
The optimal allocation or distribution of resources and goods in a way that maximizes productivity and utility without waste.
- Understand the trade-off between equity and efficiency in the allocation of resources.
Verified Answer
AG
Learning Objectives
- Understand the trade-off between equity and efficiency in the allocation of resources.