Final answer:
Economic equity means fairness and justice in the distribution of wealth and opportunities, ensuring that discrimination based on age, sex, race, religion, or income is illegal.
Step-by-step explanation:
Economic equity
Economic equity refers to the concept of fairness and justice in the distribution of wealth and resources within a society. It means that individuals should have equal opportunities and access to economic benefits, regardless of their age, sex, race, religion, or income. In other words, economic equity ensures that discrimination based on these characteristics is illegal and that everyone has a fair chance to succeed economically.
For example, imagine a country where certain groups of people were denied job opportunities or access to education based on their race or gender. This would be a violation of economic equity, as it creates unfair advantages for some and disadvantages for others.
In conclusion, economic equity is an important principle in promoting social justice and equality. It aims to eliminate discrimination and create a level playing field for individuals to thrive and contribute to the economy.
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