Welfare State: A welfare state refers to a system where the government provides various social programs and benefits such as healthcare, education, housing, and unemployment benefits through subsidies.
Agricultural Subsidies: Agricultural subsidies are financial aids given by governments to farmers or agricultural producers to support their income levels or ensure food security.
Industrial Policy: Industrial policy involves government interventions aimed at promoting specific industries or sectors through measures like subsidies, tax incentives, research funding, or infrastructure development.