Answer to Question #213236 in Finance for Ompha

Question

Differentiate between social equity and social equality and indicate which of the two is required for improvement in social welfare in a country that has a history of inequality

Answer 1

Social equity is required for improvement in social welfare in a country that has a history of inequality since it's the active commitment to fairness, justice.

Equality means each individual or group of people is given the same resources or opportunities. Equity recognizes that each person has different circumstances and allocates the exact resources and opportunities needed to reach an equal outcome.