Asked by
Cameron Harper
on Oct 27, 2024
Verified
Equity is the same as efficiency.
Equity
Fairness or justice in the way people are treated or the distribution of resources, often distinguished from equality by focusing on needs and outcomes.
Efficiency
The optimal use of resources to achieve the best possible outcome or output without wasting resources.
- Understand the restrictions market economies face in ensuring equity and the likely requirement for state intervention to correct these issues.
Verified Answer
FH
Learning Objectives
- Understand the restrictions market economies face in ensuring equity and the likely requirement for state intervention to correct these issues.
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