Task 8

Question 1

Equity

Answer 1

This principle states that resources are distributed based on an individual’s contributions, is more common in Western societies and often leads to meritocracy

Question 2

Equality

Answer 2

This principle dictates that resources should be shared equally among the members of a group, while rarely absolute, tends to be applied within certain constraints, like seniority systems

Question 3

Principle of need

Answer 3

Reflected in systems like universal health insurance and welfare

Question 4

Dictator game

Answer 4

• An economic experiment where a participant is given a sum of money and can decide whether to share it with an anonymous recipient
• Economic theory suggests that rational individuals would keep all the money, as there’s no personal gain in giving it away