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Welfare Payments
Government-provided financial assistance to individuals or households, typically aimed at supporting those who are unemployed, disabled, or on a low income.
Efficiency Loss
The reduction in economic welfare or efficiency that occurs when a market does not allocate resources optimally, often due to externalities or market power.
Demand Curves
A visual depiction showing how the price of a product relates to the amount people want to buy.
Supply Curves
Graphical representations of the relationship between the price of goods and the quantity that producers are willing to supply.
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