Society faces a trade-off between equity and efficiency because:

Question

Quizplus · Accepted Answer

The concept of equity requires that resources be distributed fairly, but efficiency usually requires that resources be allocated based on market forces, which may not always result in a fair or equitable distribution. Therefore, society must often choose between prioritizing fairness and prioritizing efficiency, as the two goals can sometimes come into conflict with each other.

Society Faces a Trade-Off Between Equity and Efficiency Because