Final answer:
Both equity and equality aim to create a fair society, with equality providing the same treatment for all, and equity ensuring access to opportunities based on individual needs.
Step-by-step explanation:
Although equity and equality have different approaches, both aim toward the goal of promoting a fair society where individuals can enjoy the peaceful enjoyment of liberty, justice, and opportunities for success. Equality focuses on providing the same rights, privileges, and duties to everyone, which can be illustrated by legal definitions and political ideals of treating people the same regardless of differences in their beliefs, nationalities, or cultures. Equity, on the other hand, involves understanding and giving individuals what they need to be successful, such as redistributing wealth to create a more balanced economy and providing social welfare programs to the less affluent to promote fairness and access to opportunities.