Glossary Category: Micro Intervention - Page 2 - 3auk

equity-efficiency trade-off

The equity-efficiency trade-off describes the conflict that occurs when policies designed to improve fairness (equity) unintentionally lower economic

Equality is the practice of providing the same resources, opportunities, or treatment to every person, without considering their

Equity means being fair and impartial in how resources, opportunities, and results are shared among people. While equality

Consequences of government failure refer to the economic inefficiencies and the loss of social welfare that happen when

Nudge theory is a concept from behavioural economics. It suggests that organizations and governments can influence the decisions

Provision of information is a policy used by governments to fix information asymmetries. This occurs when one side

Privatisation is the process of moving the ownership, control, and management of government-owned businesses or public properties to

Nationalisation is the process where a government takes control of industries or assets that were previously owned by

Deregulation is the process of removing or reducing government rules in specific industries. This allows businesses to operate

Government licensing is a process where the government grants businesses or individuals official permission to operate in a