One Way of Expressing the Tradeoff Between Income Equality and Efficiency

question 48

Short Answer

One way of expressing the tradeoff between income equality and efficiency is to say the more equally the pie is divided, the .

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Definitions:

Accountability

The obligation of an individual or organization to account for its activities, accept responsibility for them, and to disclose the results in a transparent manner.

Self-Awareness

Recognition of one's personal attributes, feelings, drives, and goals.

Norms

Socially accepted rules or standards that guide behavior in various situations.

Social Loafing

The phenomenon where individuals exert less effort to achieve a goal when working in a group compared to when working alone.