Public
Someone who would not choose to pay for a certain good or service, but who would get the benefits of it anyway if it were provided as a public good
Free Rider
Goods and services provided for free or at greatly reduced prices
In-kind benefits
Laws and standards on topics of public interest
Public policy
An economic side effect of a good or service that generates benefits or costs someone other than the person deciding how much to produce or consume
Externality
The part of the economy that involves the transactions of the government
Public Sector
A shared good or service for which it would be impractical to make consumers pay individually and to exclude nonpayers
Public good
The study of the behavior of decision making of entire economics
Macroeconomics
The dollar value of all final goods and services produced within a country's borders in a given year
GDP
The part of the economy that involves the transactions of individuals and businesses
Private Sector
Technology
Laws requiring companies to provide information about their products
Public Disclosure Laws
An income level below which income is insufficient to support families or households
Poverty Threshold
Interest group
An economic side effect of a good or service that generates benefits or costs to someone other than the person deciding how much to produce or consume
Externality
The study of the economic behavior and decision making of small units, such as individual families, and businesses
Microeconomics
Government aid to the poor
Welfare
The concerns of the public as a whole
public interest
A period of macroeconomic expansion followed by a period of contraction
Business cycle
Direct payments of money to eligible poor people
Cash Transfers