Equity is basically justice and fairness for all people.
Equity means justice and fairness and differs from equality.
Equality means to recognize that we don't all start from the same place and we must also acknowledge and make adjustments to any imbalances.
Equity is often used interchangeably with equality, but they have distinctly different meanings.
While equality demands everyone should be treated the same regardless of differences, equity is giving everyone what they need to succeed.
The word equity is defined as “the quality of being fair or impartial; fairness; impartiality” or “something that is fair and just.”
Equity is similar to equality, but equality only works when everyone starts at the same place.
Therefore, equity focuses on helping people obtain what they need so they can get to a place where equality is possible.
An example of equity in people is the line of people of different heights are watching an event from behind a fence.
Equality is giving equal opportunity for each person to get a box to stand on to get a better view.
Equity is giving each person a box of the right height for their stature, so they all get the same view.
In the real world, equity often means providing different resources or opportunities to different people, depending on their needs.
For example, an equitable education system might provide additional support to students from low-income families or students with disabilities.
Equity can also mean the amount of money the owner of an asset would be paid after selling it and any debts associated with the asset were paid off.
For example, if you own a home that's worth $200,000.00 and you have a mortgage of $50,000.00, the equity in the home would be worth $150,000.