Final answer:
Inequity refers to unnecessary, avoidable, unfair, and unjust differences. It is caused by an unjust power imbalance, often resulting from injustices against historically excluded groups of people.
Step-by-step explanation:
Inequity refers to differences which are unnecessary, avoidable, unfair, and unjust. It is a type of inequality caused by an unjust power imbalance, often resulting from injustices against historically excluded groups of people. Inequity can be seen in various areas such as the banking industry, access to voting, and the housing market, where minority groups continue to face challenges related to fairness and equitable distribution of resources.