16.1. Welfare economics. The branch of economics dealing with normative issues.Its purpose is not to describe how the economy worksbut to assess how well it works.. 16.2. Equity and efficiency. Horizontal equitythe identical treatment of identical peopleVertical equitythe different treatment of different people in order to reduce the consequences of their innate differences.
Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.