Answer to Question #89245 in Microeconomics for [e-mail]

Question

what are welfare payments and consumer subsidies?

Answer 1

Answer:

Welfare payments: The payment which is paid by the government for welfare purpose i.e; for poor people or jobless people.

Consumer Subsidies: Subsidy means government pays part of the cost. Now, consumer subsidies means the government gives the subsidy to the consumer to reduce the price of goods and services.