Explain the Difference Between Efficiency and Equity

question 149

Essay

Explain the difference between efficiency and equity.Which of the two is naturally promoted by market forces (under ideal conditions)?

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Definitions:

Dishonest

Lacking honesty or integrity; prone to lie, cheat, or deceive.

Insincere

Lacking honesty and genuine feelings; not expressing true intentions.

Innocuous Statements

Innocuous statements are remarks or comments that are harmless and not intended to offend or provoke controversy.

Concessions

Certain compromises or allowances made by a party in a negotiation or discussion to reach an agreement.