Question

An important trade-off society faces is between efficiency and equality. Please explain this trade-off and provide...

An important trade-off society faces is between efficiency and equality. Please explain this trade-off and provide an example (a public policy for example) which intended for better efficiency (or equality) but has to reduce the other.  

Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Consider the case of reservations in jobs.In reservation policies, there are certain jobs that are indeed set aside for the discriminated or the backward class of the country so that they also develop on the whole and preserve equality of the country. However this is equality but cannot be termed as an efficient process and this is because of the fact that the high skilled worker cannot get a job where the person with reservation can easily crack the job on the whole. This tradeoff might not be fair but it actually intends to stand with equality all in all.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Please explain the trade off between inflation and unemployment. Should we worry about inflation? How important...
Please explain the trade off between inflation and unemployment. Should we worry about inflation? How important is to control the level of unemployment in one economy?
Why is the hypothesized trade-off between unemployment and inflation important for policy makers?
Why is the hypothesized trade-off between unemployment and inflation important for policy makers?
Do specific taxes really provide the result intended? In recent years, you probably have heard the...
Do specific taxes really provide the result intended? In recent years, you probably have heard the argument that tobacco taxes should be raised in order to reduce smoking. Since smoking is bad for you, if you choose to smoke, society is going to make you pay for doing so by levying a greater burden on you through a stiff tobacco tax. Discuss the economic impact of imposing such a policy stance. In doing so, identify whether higher tobacco taxes really...
Sometimes a trade-off must be made between information accuracy and timeliness. Give an example in which...
Sometimes a trade-off must be made between information accuracy and timeliness. Give an example in which it is imperative to make an estimate now, rather than wait a couple of weeks for an exact number. (Please cite a source to your findings)
about the trade war between the US and China, please explain shortly why President Trump wants...
about the trade war between the US and China, please explain shortly why President Trump wants to reduce trade dificit and increase employment and investment in the US? why he wants to maintain advantageous position economically and technologically?
Distance plays an important role in trade patterns: on average, the closer two countries are, the...
Distance plays an important role in trade patterns: on average, the closer two countries are, the less they trade: True or False? Africa has increased its share of total world exports between 1965 and 2012: True or False? North America has increased its share of total world exports between 1965 and 2012: True or False? Asia has increased its share of total world exports between 1965 and 2012: True or False? The Middle East has increased its share of total...
Please read the following articles and answer to the questions. “The important thing for Government is...
Please read the following articles and answer to the questions. “The important thing for Government is not to do things which individuals are doing already, and to do them a little better or a little worse; but to do those things which at present are not done at all.” --John Maynard Keynes, British economist “we expect our elected representatives to be resposible stewards of the public purse, to show compassion for those at the margins of Canadian society, and to...
1) for a high tax society the disposable income of people will decline and so will...
1) for a high tax society the disposable income of people will decline and so will be there saving and investment, in this kind of a society the government expenditure will crowed out the private investment as the rate of interest will be high. in this society the poor people will be benefited the most from the public expenditure but the richer class will be burdened. in case of a low tax society the disposable income f people will be...
Please I need answer for This question and it is very important and I need solution...
Please I need answer for This question and it is very important and I need solution for this issue with all the details just nu , and help me with all the details, so that I can read and understand your answer clearly.thanks in advance/Ha Q. This question will ask you to analyse the effect of trade liberalisation when there are economies of scale in production. a) Explain the difference between external and internal economies of scale. b) Give three...
1.Explain the difference between deterministic and stochastic user equilibrium with an example. Which one is more...
1.Explain the difference between deterministic and stochastic user equilibrium with an example. Which one is more realistic and why? 2.Explain with an example why an activity based model is a better representative of daily urban travel than a four-step model. 3.The system utilities for Public Transit (PT) and Car (C) mode are: Vc = 0.238 – 0.350TTc Vpt = -0.531TTpt Calculate the probability of choices for following trips: Trip Travel Time Car (TTc) Travel Time Public Transit (TTpt) 1 5...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT