Welfare

Definition

Welfare refers to the financial and material support provided by the government to individuals or families in need. It includes various social assistance programs aimed at improving living standards, reducing poverty, and ensuring basic needs are met.

Related terms

Means-tested Programs: Means-tested programs are welfare initiatives that provide benefits based on an individual's income level or financial need. Examples include Medicaid, Supplemental Nutrition Assistance Program (SNAP), and Temporary Assistance for Needy Families (TANF).

Universal Basic Income (UBI): Universal Basic Income is a concept where every citizen receives a regular cash payment from the government regardless of their employment status or income level. It aims to ensure everyone has a minimum standard of living.

Poverty Line: The poverty line is an income threshold set by the government to determine whether individuals or families are considered living in poverty. It varies across countries and takes into account factors such as family size and cost of living.