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EQUALITY. EQUALITY, EQUITY, INEQUALITY, INEQUITY. This NCEA standard is about INEQUALITY and EQUALITY and INEQUITY and EQUITY. I know what you’re thinking …. WHAT! This is stoopid, well yes: yes it is. EQUALITY When a situation or outcome is the same. Equality is OBJECTIVE. EQUITY
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EQUALITY, EQUITY, INEQUALITY, INEQUITY • This NCEA standard is about INEQUALITY and EQUALITY and INEQUITY and EQUITY. • I know what you’re thinking …. WHAT! This is stoopid, well yes: yes it is.
EQUALITY When a situation or outcome is the same. Equality is OBJECTIVE EQUITY When a situation or outcome is fair, this is a subjective concept and will depend on values. EQUALITY AND EQUITY In Economics we normally discuss inequality in income distribution. In Economics we usually discuss inequity in terms of income distribution
The Same, receiving the same treatment, the same outcome EQUALITY Different, unequal, receiving unequal treatment, different outcomes INEQUALITY EQUITY Fairness, Justice, getting your dues, values INEQUITY Unfairness, injustice, prejudice
Inequality and equality • Inequality = unequal. • Equality is an objective concept. Data can be used to decide if a situation is one of equality or inequality.
Equity and inequity • Equity is to do with justice, morality and right. It varies from one person to another. It is a subjective concept and cannot be separated from the values people hold. • Inequity=unfair
Copy the following table on a full page in your exercise book
Read the following four scenarios and place them in correct box in your table You are 17 and get paid $10 an hour irrespective of age, gender, race or looks Everyone gets a litter detention even if only one person speaks. Only people who passed a driving test get a license. Paid different for an equal amount of work
EQUALITY INEQUALITY Paid different for an equal amount of work. I N E Q U I T Y E Q U I T Y Everyone gets a litter detention even if only one person speaks. You are 17 and get paid $10 an hour irrespective of age, gender, race or looks Only people who passed a driving test get a license.
Income Examples • Lotto, T.A.B, Grants, Wages, Salaries, Profit inhertance
WEALTH please • Wealth is related to assets an individual may have. • Wealth is a stock because it is concerned with how much exists at a point in time. • While most people have an income not everyone has wealth. It is distributed for various reasons and can be inherited.