Fair and Fare have multiple unrelated meanings, so let’s take them one at a time . . .
Fair as an adjective (adverb fairly) has the following meanings:
1. just, as in justice (impartial, balanced):
A 20 years in jail for selling marijuana does not seem fair.
2. meaning so-so:
The quality of her writing is only fair.
3. moderate in degree or amount:
Daniel gave me a fair amount.
4. describing a day with sunny and comfortable weather (not too hot or cold):
Looks like we can expect fair weather for the rest of the week!
5. describing light-colored skin and hair:
Cristian got his fair complexion from his mother.
6. meaning attractive (to the eye), in reference to young adults or teenagers:
Princess Marie was regarded as the fairest lady in the land.
Fair, as a noun, is a public event for shopping or fun. Traditionally, fairs are temporary, periodic, and often outdoors with many sellers and also amusements, such as shows and games.
In modern society, we also have job fairs, where people seeking jobs can meet employers—book fairs, health fairs, etc. where people can buy products and services from many sellers.
Fare, as a count-noun, is the fee for riding in any form of transportation (buses, taxis, planes, etc.)— the price of a ticket. In a secondary usage, people paying to ride are sometimes referred to as fares.
Fare, as a non-count noun, refers to the types of food in a meal or diet:
What fare does this restaurant serve?
The verb to fare can mean to travel. The English word farewell, used for goodbye, literally means “travel well.”
To fare can also mean to do or to succeed, for results-oriented activities:
How did you fare on the exam?
We hope you fare well in all of your efforts.