Equity Means That

question 171

Multiple Choice

Equity means that:

• A)everyone gets an efficient share of the goods and services produced.
• B)everyone gets his or her fair share of the goods and services produced.
• C)more of some goods and services can be produced only if the production of others is reduced.
• D)more of all goods and services may be produced.

Solve basic algebraic proportions and linear equations.

Understand and calculate percentages, including finding a number given a percentage of it.

Apply geometric concepts to solve problems involving the perimeter, area, and similar triangles.

Calculate markup, markdown, discount, and unit pricing in financial literacy contexts.

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Definitions:

Efficiency

The optimal production and distribution of resources in a way that maximizes the net benefit to society or an economy.

Total Surplus

A measure of society's overall net advantage resulting from the consumption and production of a good or service, comprised of both consumer and producer surplus.

Fire Marshal

An official responsible for enforcing fire safety codes and regulations, as well as investigating fires to determine their cause.

Total Surplus

In economics, the total net gain to society from trading in a market, equal to the sum of consumer and producer surplus.