This study addresses the issue of educational inadequacy and inequity for disadvantaged minority students. It estimates desired national standards and examines interrelated gaps in key school-teacher resources and mathematics achievement by linking national education data sets (National Assessment of Educational Progress [NAEP], Common Core of Data, and Schools and Staffing Survey). Although poor minority students' chances to meet the national mathematics proficiency standard are undermined by the lack of their access to qualified teachers and adequate school funding, it turns out that the adequacy-based (absolute) gaps are much larger than the equity-based (relative) gaps. Meeting the NAEP Grade 8 mathematics proficiency standard requires substantial increases in per-pupil education spending (from $6,493 to $7,197 in year 2000 dollars) and in-field mathematics teaching rate (from 49% to 91%) across the nation. Research and policy implications are discussed. (Contains 3 tables, 3 figures and 2 notes.)