MICRO GOALS: The two goals of a mixed economy that are most relevant to the study of microeconomics are efficiency and equity. Efficiency is obtaining the most possible satisfaction of wants and needs from a given amount of resources. Equity is the "fairness" with which income and wealth are distributed. Of course, what is "fair" is not obvious. See also | economic goals | macro goals | mixed economy | microeconomics | equity | efficiency | satisfaction | wants | needs | Pareto efficiency | income distribution | wealth distribution | third rule of inequality |
