Question

Explain about market and equality

Answer 1

market;

A market is one of the many varieties of systems, institutions, procedures, social relations and infrastructures whereby parties engage in exchange. While parties may exchange goods and services by barter, most markets rely on sellers offering their goods or services (including labor) in exchange for money from buyers.

equality

;Equality is ensuring individuals or groups of individuals are not treated differently or less favourably , on the basis of their specific protected characteristic, including areas of race, gender, disability, religion or belief, sexual orientation and age.

Answer 2

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• Economy means a place where money is traded or exchanged for goods and services. Through nature, therefore, the economy still meets certain demands that are backed up through the buying power. The market functions in this way according to the price signals.

• This implies that if demand is high, then the price will be strong and the economy must produce such products. The economy, though, overlooks social equity in this manner. It only caters for those who have the purchasing power to demand.

• Many of the disadvantaged will be absolutely robbed of the various goods, sometimes even the necessary products, because they cannot afford to pay for them. Depending on this theory, we can therefore conclude that the economy benefits those with purchasing power, thus overlooking the social issues of the weak. Market exaggerates the equality in this way.