Efficiency is related to the size of the economic pie,where equity is related to how the pie gets sliced and distributed.

Question

Quizplus · Accepted Answer

Efficiency refers to the total amount of goods and services produced in the economy, whereas equity refers to how those goods and services are distributed among society. Therefore, efficiency is about the size of the economic pie, while equity is about how it is divided.

Efficiency Is Related to the Size of the Economic Pie,where