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in the economy , what is the efficiency and equity?
please give me a example.
thk...
please give me a example.
thk...
Answers
Efficiency would be creating a system that doesn't have losses I think? This means that it operates smoothly. Equity would be taxing people so we could redistribute money. Taxing destroys efficiency because there is a cost to taxing people (e.g. the cost of running the government) so one has to balance the two.