What is meant by equality and equity?
Please Explain As big As possible on this 2 topics ( Equality and equity)
Answers
Answer:
In the political thought, equality is described that all human beings are equal, and equality in distribution, namely equal distribution of wealth, social opportunities and political power. There are different types of equality such as political, social, legal, natural, and economic equality
In finance, equity is ownership of assets that may have debts or other liabilities attached to them. Equity is measured for accounting purposes by subtracting liabilities from the value of an asset. ... Equity can apply to a single asset, such as a car or house, or to an entire business
example = Examples of stockholders' equity accounts include:
Common Stock.
Preferred Stock.
Paid-in Capital in Excess of Par Value.
Paid-in Capital from Treasury Stock.
Retained Earnings.
Accumulated Other Comprehensive Income.
Etc.
Even if you take the time to search the words equity and equality in the dictionary, you might walk away thinking they mean the same thing. Merriam-Webster defines equitable as “dealing fairly and equally with all concerned,” and equal as “of the same measure, quantity, amount, or number as another.” However, much like systemic and systematic, the two words (and their derivatives) can’t be used interchangeably.
Equality has to do with giving everyone the exact same resources, whereas equity involves distributing resources based on the needs of the recipients. On the left side of the illustration above, for example, three identical boxes are given to three people of different heights—it’s an equal distribution of resources, but it fails to consider that the tallest person doesn’t need a box to see over the fence, while the shortest person could clearly use an extra one. When the boxes are redistributed equitably, as seen on the right side of the illustration, all three spectators can watch the game.
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