How Does Equality of Opportunity Differ from Equality of Results

question 71

Essay

How does equality of opportunity differ from equality of results? Why are some politicians and civil rights leaders focusing less on equality for individuals and more on equality between groups? What kind of change in the civil rights focus may be necessary because of the growing gap between rich and poor? How could a focus on economic disparity promote civil rights for all people,regardless of race,ethnic origin,religion,sex,or sexual orientation?

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Definitions:

Marginal Revenue

The additional income generated from selling one more unit of a product or service.

Profit-Maximizing

A strategy or point where a firm produces at a level where its marginal cost equals marginal revenue, maximizing its profit.

Economic Losses

Financial losses incurred by businesses or individuals, often resulting from poor investment decisions, decreased demand, or external factors affecting the market.

Perfectly Competitive Market

A market structure characterized by many buyers and sellers, homogeneous products, and free entry and exit, where no single entity can influence the market price.