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Definitions of welfare:

noun:   governmental provision of economic assistance to persons in need
noun:   something that aids or promotes well-being
noun:   a contented state of being happy and healthy and prosperous

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cost-benefit-analysis welfare consumer-surplus vilfredo-pareto economics microeconomics allocative-efficiency distribution-economics social-welfare-function methodological-individualism pareto-efficiency economic-inequality positive-science normative neoclassical-economics francis-ysidro-edgeworth henry-sidgwick alfred-marshall arthur-cecil-pigou cardinal-utility marginal-utility-2 commensurability john-hicks-american-football nicholas-kaldor ordinal-utility distributive-efficiency marginal-rate-of-substitution production-possibilities-frontier production-theory-basics monopoly monopsony oligopoly oligopsony monopolistic-competition externality social-cost price-discrimination natural-monopoly kaldor-hicks-efficiency fundamental-theorems-of-welfare-economics jeremy-bentham indifference-curve social-indifference-curves-small-png production-and-consumption-small-png edgeworth-box contract-curve macroeconomics political-science social-welfare-provision human-development-theory value-theory economy-8 state cardinal-number ordinal-number quality-of-life consumerism productivism arrow-s-impossibility-theorem compensation-principle feminist-economics justice-economics income-inequality-metrics gini-coefficient lorenz-curve copenhagen-consensus measures-of-national-income-and-output list-of-economics-topics list-of-business-ethics-political-economy-and-philosophy-of-business-topics list-of-important-publications-in-economics social-choice-and-individual-values anthony-barnes-atkinson the-new-palgrave-a-dictionary-of-economics arnold-harberger yew-kwang-ng foundations-of-economic-analysis amartya-sen theil-index scarcity opportunity-cost supply-and-demand elasticity-economics economic-surplus economic-shortage aggregate-demand consumer-theory production-costs-and-pricing market-structure market-failure pareto-optimality human-suffering-index kenneth-arrow friedrich-hayek health-maintenance-organization glenn-loury social-planner capability scitovsky-paradox

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