Examlex
The terms equality and efficiency are similar in that they both refer to benefits to society. However, they are different in that
Inequity
The lack of fairness or justice in situations, treatments, or conditions, often used in the context of social or economic disparities.
Excise Taxes
Taxes applied to the purchase of specific goods or activities, sometimes used to discourage consumption of certain items.
Deadweight Loss
A loss of economic efficiency that can occur when the equilibrium for a good or service is not achieved or is not achievable.
Revenue
The total amount of money received by a company for goods sold or services provided during a certain time period.
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