Explain Why Welfare Caseloads Have Dropped Dramatically Since the Mid-1990s

question 2

Essay

Explain why welfare caseloads have dropped dramatically since the mid-1990s. What are the positive and negative consequences of the policy change that reduced welfare rolls?

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Definitions:

Personal Selling

A method of sales where businesses use individuals to sell the product after meeting face-to-face with the customer.

Economies of Scale

Refers to the cost advantages that enterprises obtain due to their scale of operation, leading to a reduced cost per unit.

Economies of Scope

Cost advantages that result from a company offering a range of products rather than specializing in just one.

By-product Synergy

The practice of finding valuable uses for waste or by-products generated during the manufacturing process, thereby reducing waste and potentially increasing efficiency and profitability.