equity
Fairness that gives each person what they personally need.
Equity means fairness that accounts for people's different circumstances and needs. Equity means giving people what they specifically need to succeed based on their individual situations.
Imagine three students trying to see over a fence to watch a soccer game. If you give each student the same size box to stand on, that's equality: everyone gets the same thing. But what if one student is very tall, one is average height, and one is quite short? The tall student doesn't need a box at all, the average student needs one box, and the short student needs two boxes. Giving each person what they actually need so they can all see the game, that's equity.
Teachers practice equity when they spend extra time helping a student who struggles with reading while other students work independently. Parents show equity when they recognize that each child has different needs: one might need more help with homework, another might need more encouragement to try new things.
In business and law, equity has other specific meanings, but they all connect to this core idea of what's fair and just based on individual circumstances.