Flashcards: Public economics

A public–private partnership (PPP, 3P or P3) is a government service or private business venture that is funded and operated through a partnership of government and one or more private sector companies.

In economics, crowding out is argued by some economists to be a phenomenon that occurs when increased government involvement in a sector of the market economy substantially affects the remainder of the market, either on the supply or demand side of the market.

In economics, an externality is the cost or benefit that affects a party who did not choose to incur that cost or benefit.

Public choice or public choice theory refers to "the use of economic tools to deal with traditional problems of political science".

Redistribution of income and redistribution of wealth are respectively the transfer of income and of wealth (including physical property) from some individuals to others by means of a social mechanism such as taxation, charity, welfare, public services, land reform, monetary policies, confiscation, divorce or tort law.

Deregulation is the process of removing or reducing state regulations, typically in the economic sphere.

The economic policy of the George W.

In the analysis of regulation, government failure (or non-market failure) is imperfection in government performance.

Social cost in economics may be distinguished from "private cost".

Equal pay for equal work is the concept of labor rights that individuals in the same workplace be given equal pay.

Wage regulation refers to attempts by a government to regulate wages paid to citizens.