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Why is it essential to diagram a process?
Transfer Payments
Payments made by governments to individuals without any expectation of a direct return or exchange, such as welfare benefits or social security.
Government Spending
Expenditures made by the government in any given period, including on services, salaries, and infrastructure projects.
Economic Role
The functions and responsibilities that different entities (individuals, firms, governments) play in the economy.
Government
The governing body of a nation, state, or community which makes and enforces laws, policies, and regulations.
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