Answer to Question #213907 in Finance for Khuliso

Question #213907

2.1 Differentiate between social equity and social equality and indicate which of the two is required for improvement in social welfare in a country that has a history of inequality. (5)

2.1. Critically discuss any three Macroeconomic and at least two Microeconomic reasons for growth in government expenditure. 

Expert's answer

2.1Equality refers to how people are treated, such as treating students with the same respect or giving them with the same amount of instruction. Equity, on the other hand, is about providing each kid with the tools he or she requires to succeed.

2.1Macroeconomics includes unemployment, interest rates, inflation, and GDP. Microeconomics includes concepts such as consumer equilibrium, individual income, and savings.

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