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What do you understand by the term transfer payment?
- a)Payment given to the importers by a domestic firm for the goods supplied.
- b)It is a part of profit which is not distributed among the factors of production.
- c)It is a one-way payment to a person who has given or exchanged no money, good, or service for it.
- d)Payment made by the parent company to subsidiary companies for use of goods or services.
Correct answer is option 'C'. Can you explain this answer?
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What do you understand by the term transfer payment?a)Payment given t...
A transfer payment is a one-way payment to a person who has given or exchanged no money, good, or service for it. It is a process used by governments as a way to redistribute money through programs such as old age or disability pensions, student grants, scholarships, prizes, unemployment compensation, etc.
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What do you understand by the term transfer payment?a)Payment given t...
Transfer payment refers to a payment made by the government or any other organization to an individual or household without any exchange of goods or services. It is a one-way payment that is made to help the recipient meet his/her basic needs or improve his/her economic condition. Here are some key points to understand the concept of transfer payment:
Definition: Transfer payment refers to a payment made by one party to another without any exchange of goods or services.
One-way payment: Transfer payment is a one-way payment that is made to the recipient without any obligation to repay or provide anything in return.
Purpose: Transfer payment is made to support the income of individuals or households or to provide assistance for specific needs like healthcare, education, or housing.
Examples: Examples of transfer payments include social security benefits, welfare payments, unemployment benefits, and food stamps.
Impact on economy: Transfer payments can have a significant impact on the economy as they can help to reduce poverty, increase consumer spending, and stimulate economic growth.
Criticism: Transfer payments are often criticized for creating a culture of dependency and discouraging work. However, proponents argue that they are necessary to provide a safety net for those who are unable to support themselves.
Conclusion: Transfer payment is an important concept in economics that refers to a payment made to an individual or household without any exchange of goods or services. It is a one-way payment that is made to support the income of the recipient or to provide assistance for specific needs.
Definition: Transfer payment refers to a payment made by one party to another without any exchange of goods or services.
One-way payment: Transfer payment is a one-way payment that is made to the recipient without any obligation to repay or provide anything in return.
Purpose: Transfer payment is made to support the income of individuals or households or to provide assistance for specific needs like healthcare, education, or housing.
Examples: Examples of transfer payments include social security benefits, welfare payments, unemployment benefits, and food stamps.
Impact on economy: Transfer payments can have a significant impact on the economy as they can help to reduce poverty, increase consumer spending, and stimulate economic growth.
Criticism: Transfer payments are often criticized for creating a culture of dependency and discouraging work. However, proponents argue that they are necessary to provide a safety net for those who are unable to support themselves.
Conclusion: Transfer payment is an important concept in economics that refers to a payment made to an individual or household without any exchange of goods or services. It is a one-way payment that is made to support the income of the recipient or to provide assistance for specific needs.
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What do you understand by the term transfer payment?a)Payment given to the importers by a domestic firm for the goods supplied.b)It is a part of profit which is not distributed among the factors of production.c)It is a one-way payment to a person who has given or exchanged no money, good, or service for it.d)Payment made by the parent company to subsidiary companies for use of goods or services.Correct answer is option 'C'. Can you explain this answer?
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What do you understand by the term transfer payment?a)Payment given to the importers by a domestic firm for the goods supplied.b)It is a part of profit which is not distributed among the factors of production.c)It is a one-way payment to a person who has given or exchanged no money, good, or service for it.d)Payment made by the parent company to subsidiary companies for use of goods or services.Correct answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about What do you understand by the term transfer payment?a)Payment given to the importers by a domestic firm for the goods supplied.b)It is a part of profit which is not distributed among the factors of production.c)It is a one-way payment to a person who has given or exchanged no money, good, or service for it.d)Payment made by the parent company to subsidiary companies for use of goods or services.Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What do you understand by the term transfer payment?a)Payment given to the importers by a domestic firm for the goods supplied.b)It is a part of profit which is not distributed among the factors of production.c)It is a one-way payment to a person who has given or exchanged no money, good, or service for it.d)Payment made by the parent company to subsidiary companies for use of goods or services.Correct answer is option 'C'. Can you explain this answer?.
What do you understand by the term transfer payment?a)Payment given to the importers by a domestic firm for the goods supplied.b)It is a part of profit which is not distributed among the factors of production.c)It is a one-way payment to a person who has given or exchanged no money, good, or service for it.d)Payment made by the parent company to subsidiary companies for use of goods or services.Correct answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about What do you understand by the term transfer payment?a)Payment given to the importers by a domestic firm for the goods supplied.b)It is a part of profit which is not distributed among the factors of production.c)It is a one-way payment to a person who has given or exchanged no money, good, or service for it.d)Payment made by the parent company to subsidiary companies for use of goods or services.Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What do you understand by the term transfer payment?a)Payment given to the importers by a domestic firm for the goods supplied.b)It is a part of profit which is not distributed among the factors of production.c)It is a one-way payment to a person who has given or exchanged no money, good, or service for it.d)Payment made by the parent company to subsidiary companies for use of goods or services.Correct answer is option 'C'. Can you explain this answer?.
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