Equity means being fair and impartial in how resources, opportunities, and results are shared among people. While equality means giving everyone the exact same thing, equity understands that individuals have different starting points. Therefore, it provides customized support to help everyone reach similar outcomes.

Key points:

• Governments use progressive taxes, welfare programs, and subsidies to foster a fairer society.
• The main goal is to reduce unfair disadvantages while still encouraging people to work and innovate.
• This concept is frequently used when discussing how wealth, income, and public services are distributed.