Economics

Economics
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  • Subsidies: This is when a sum of money from the government or the public is granted to assist a industry or business. For example the government provides money to farms to help them keep going and producing. 
  • Government Overspending: This can lead to deficits or unbalanced budgeting. But overall it is when the government/state spends to much money on the public and can not make enough back in taxes. An example could a new mall.
  • Free Rider Problem: This is when people take advantage of goods and services provided to them. Then ultimately those people who do that do not pay for what they have taken. It is a bad thing because have continous access to it. 
  • Public Goods: This is a service provided to everyone without profit. So for example being able to go to a park and sit on a bench you can do without spending money because the government payed for it for you to use. 
  • Government Supports: This is when the government supports you. They can support you financially, medically, childcare and many other ways.
  • Pork Barrel Legislation: This is when the government funds for projects to please voters. So a funny example could be a cnady shop to get people to vote for them. 
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