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What does equity mean in economics?

A

Fairness in how income and opportunity are shared, potentially treating people differently according to need.

B

Equality in how income and opportunity are shared, giving priority to those with the highest income.

C

Efficiency in how income and opportunity are shared, prioritising the greatest total output.

D

Sameness in how income and opportunity are shared, giving everyone identical amounts regardless of need.

Card 1 of 23

8.2.1 difference between equity and equality Flashcards

  1. Intl A Level
  2. /Economics
  3. /8.2.1 difference between equity and equality

23 flashcards on CIE Intl A Level Economics 8.2.1 difference between equity and equality: the key terms and definitions you need to recall.

Flashcards