What is the difference between equity and fairness?

Economics Supply And Demand Questions



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What is the difference between equity and fairness?

Equity refers to the concept of distributing resources or opportunities in a just and impartial manner, taking into account individual circumstances and needs. It focuses on achieving equality and reducing disparities among individuals or groups. Fairness, on the other hand, refers to the idea of treating individuals or groups in a just and unbiased manner, without favoritism or discrimination. It emphasizes equal treatment and impartiality. While equity aims to address existing inequalities, fairness aims to ensure equal treatment for all.