Subsidies
Subsidies
Subsidies (/ˈsʌbsɪdiːz/; from Latin subsidium, a support, assistance) are a form of financial aid or support extended to an economic sector (business, or individual) generally with the aim of promoting economic and social policy.
Etymology
The term subsidy originates from the Latin word subsidium. This word is a combination of sub (under, beneath) and sedēre (to sit). Thus, it originally referred to military assistance, as in troops sitting in reserve, but has since evolved to refer to any type of financial or resource assistance.
Types of Subsidies
There are several types of subsidies, including:
- Direct Subsidy: A direct subsidy is one that involves directly giving money to the individual or business.
- Indirect Subsidy: An indirect subsidy is one that involves reducing costs for a business or individual, such as tax breaks or grants.
- Production Subsidy: A production subsidy is given to businesses to help with the cost of producing a good or service.
- Consumption Subsidy: A consumption subsidy is given to consumers to help with the cost of purchasing a good or service.
Related Terms
- Grant: A grant is a sum of money given by a government or other organization for a specific purpose.
- Tax Break: A tax break is a reduction in taxes that a government offers to businesses or individuals.
- Financial Aid: Financial aid is money given or loaned to help pay for something, often education.
- Economic Policy: Economic policy refers to the actions that governments take in the economic field.
External links
- Medical encyclopedia article on Subsidies
- Wikipedia's article - Subsidies
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