This document addresses the need to deal with the concept of minimum educational adequacy, provides possible definitions of adequacy as viewed from a policy perspective, considers the factors involved in establishing a framework for exploring the various dimensions of adequacy, and treats the issues affecting formalization of a policy model of educational adequacy. The paper opens with the assertion that adequacy is a dimension of the broader concept of equality of opportunity. Several traditional ways of establishing equality are examined, and it is concluded that adequacy can best be regarded as an approach to the securing of equitable educational outcomes as opposed to inputs. The author reviews several court cases affecting school finance, analyzes their policy implications, and develops from these implications a definition of adequacy based on three criteria: an equalization program, the inclusion of need factors, and the inclusion of cost differentials in determining appropriate levels of real resources. The policy framework for implementing this definition incorporates an evaluation mechanism driven by the achievement of relevant output indicators. The author concludes with a description of a goal-programming policy model for adequacy based on educational production function concepts. (Author/PGD)