| 单词 | efficiency-equity trade-off |
| 释义 | efficiency-equity trade-off A clash between making decisions on grounds of efficiency, and considerations of equity or fairness. When a good is exceptionally scarce, for example, efficiency suggests that its price should rise, both to direct available supplies to the uses in which the highest valuation is put on them, and to induce additional supplies. Rationing by price is liable to hurt poorer consumers most, however, and is thus often held to be unfair or inequitable. Similarly, efficiency suggests that it is not rational to tax other consumer goods but exempt food, while equity suggests exempting food from tax as the poor spend relatively more of their incomes on it. |
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