Leanna Jenkins
June 20, 2017
ECO 201
Efficiency vs. Equality
One of the main issues a market faces is the trade off between efficiency and
equality. Efficiency is based on the most advantageous production and allocation of
resources given factors of production. It is important to be able to use resources
efficiently so that it increases production for more than one good/service. Then
there is equality, which is based on how resources are distributed throughout
society. It is important to be able to distribute resources equally within a society so
that all goods and services are able to prosper. Efficiency and equality both have a
role within the market and deciding if one holds more weight can be circumstantial.
Should one of these be a focal point in our society? I would say putting too
much focus on one over the other could cause problems in the long run. Finding
short-term fixes is not the answer. Equality is the whole ideology behind America,
but when it comes to resources equality is not the most efficient way to distribute
resources. Production and allocation of a good or service is finding a balance