Economists use the word equality to describe a situation in which a. each member of society has the same income. b. each member of society has access to abundant quantities of goods and services, i. regardless of his or her income. c. society is getting the maximum benefits from its scarce resources. d. society's resources are used efficiently.

Question

Jorden Carson

Business

10 July, 02:35

Economists use the word equality to describe a situation in which a. each member of society has the same income. b. each member of society has access to abundant quantities of goods and services, i. regardless of his or her income. c. society is getting the maximum benefits from its scarce resources. d. society's resources are used efficiently.

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Answers (1)

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Dashawn Benjamin · Answer 1

Answer is option A, i. e. each member of the society has the same income

Explanation:

Regarding economics or, we can say in the language of economists, equality can be defined as a situation when each member of the society, regardless of their gender, profession, and hard work; has an equal amount of wealth. It means that when each one in the society has access to all the available resources, and each one of them can afford those goods and services, then they are said to be economically equal.