Economic equity is ranked third as it focuses on fairness and justice in the distribution of wealth. It seeks to ensure that everyone gets their fair share, reducing disparities and promoting social cohesion.

rephrase this sentence in 2nd grade

Economic equity is the third important thing because it helps make things fair and equal for everyone when it comes to sharing money and making sure everyone has what they need. It helps make sure people are treated fairly and helps everyone get along better.