If an economy's resources are used efficiently,then it is guaranteed that the economy will also achieve equity.

Question

Quizplus · Accepted Answer

Efficiency and equity are two different concepts. Efficiency refers to the optimal use of resources to maximize output, while equity refers to fairness in distribution of resources and opportunities. Even if an economy is using its resources efficiently, it does not necessarily mean that everyone is getting an equal share of the benefits. Achieving equity requires deliberate policies and interventions to address inequalities and ensure that everyone has access to basic necessities such as education, healthcare, and employment opportunities.

If an Economy's Resources Are Used Efficiently,then It Is Guaranteed