The Definition of "Transfer Payments" in Economics?

Answer Transfer payments can be made by businesses or by the government at the federal, state, and local levels. These payments are given to individuals without the expectation of receiving a service or p... Read More »

Top Q&A For: The Definition of "Transfer Payments" in Economics

Transfer Payments in Economics?

Economics seeks to study the ways that people use scarce resources, and ideally to find those methods that are most efficient. In modern economics, for a study to be taken seriously it must be quan... Read More »

Do transfer payments include mortgages?

Mortgages are not transfer payments. Transfer payments are issued to American citizens by the federal government through social benefit programs. These social programs include Social Security, welf... Read More »

Definition of GDP in Economics?

GDP is the acronym for Gross Domestic Product. From an economic perspective, GDP is a tell-all indicator of vitality because it represents the total market value of all goods and services produced... Read More »

Definition of Public Goods in Economics?

In economics there is a distinction made between public and private goods. Private goods are consumables that can be used to make a profit and can run short if consumers overuse them, preventing ot... Read More »