In which of the following situations would economists use the word equity?
A)Each member of society has the same income.
B)Society is getting the most it can from its scarce resources.
C)Those in society who have the least will receive the most.
D)The benefits of society's resources are distributed fairly among society's members.

Question

Quizplus · Accepted Answer

Economists use the word equity in situations where the benefits of society's resources are distributed fairly among society's members. This means that there is a fair distribution of resources, such as income, opportunities, and access to services, among all members of society. The other choices, such as everyone having the same income or society getting the most from scarce resources, may indicate efficiency, but not necessarily equity.

In Which of the Following Situations Would Economists Use the Word