1. Efficiencyvs.Equality 2. Self-Interest and the Social Interest When you buy a pair of shoes or a textbook , or even just take a shower, you expressyourview about how scarce…

Slide 1Efficiency and Equity CHAPTER 5 Slide 2 After studying this chapter you will be able to Describe the alternative methods of allocating scarce resources Explain the…

Slide 1EFFICIENCY AND EQUITY 5 CHAPTER Slide 2 Objectives After studying this chapter, you will able to Define efficiency Distinguish between value and price and define consumer…

Slide 1 Slide 2 5 EFFICIENCY AND EQUITY Slide 3 © 2012 Pearson Addison-Wesley Slide 4 Every time you order a pizza or buy a Valentines Day rose, you express your view about…

Slide 1 Efficiency and Equity CHAPTER 5 Slide 2 After studying this chapter you will be able to Describe the alternative methods of allocating scarce resources Explain the…

Slide 1 © 2010 Pearson Education Canada Slide 2 Slide 3 Every time you pour a glass of water or order a pizza, you express your view about how scarce resources should be…

EFFICIENCY AND EQUITY 5 CHAPTER Objectives After studying this chapter, you will able to Define efficiency Distinguish between value and price and define consumer surplus…