Beruflich Dokumente
Kultur Dokumente
Jonathan Moyes
Mr. Ellis
Microeconomics
Equity and efficiency are usually not two values that are perfectly
not perfectly efficient. At the same time, things that are efficient are
especially for the poor. This promotes fair and even distribution of
wealth.
plot of land and cultivates a large crop of wheat. This wheat is then
Moyes 2
purchased by a large processor which refines the wheat into flour, a usable
decided to plant their own wheat, refined it into flour, and bake their own
loaf of bread. The cost of the second example is much higher than the
first – both in physical and labor costs – as well having a much higher
him do the farming. The processor is more efficient at making flour, and
solid conclusion. The idea obviously promotes general equity amongst the
healthcare for the population may be being taken away from the defense
be illustrated by the following statement: “When workers are laid off, they
new job.” If this were the case, people who loose their jobs would
incentive to look for a new job is reduced by the benefits they can
economy and are an economic drain on the society in which the live. They
productive society.