Final answer:
To decide if a new partner in a business is paying extra or getting extra, compare their contributions with their received benefits, ensuring equity and that benefits outweigh costs.
Step-by-step explanation:
When determining whether a new partner is paying extra or getting extra in a partnership, it's important to evaluate the costs and benefits of the arrangement. Each partner may bring different resources to the table, such as money, time, skills, or other assets. To determine if someone is paying or getting extra, you would compare their contributions to what they are receiving in return. A partner paying extra might be contributing more financially without receiving proportional benefits. Conversely, a partner getting extra might be receiving more in benefits compared to what they have invested or contributed. This is akin to acting as 'naïve economists', where people assess the relationship's value by balancing the equity and fairness of what each party brings to and takes from the partnership, ensuring that the benefits outweigh the costs.