Refers to the economic well being of an individual, group, or economy. For individuals, it is conceptualized by a utility function. For groups, including countries and the world, it is a tricky philosophical concept, since individuals fare differently. In trade theory, an improvement in welfare is often inferred from an increase in real national income.

Use welfare in a sentence

I was really upset because a lot of the families in my neighborhood were on welfare and needed help from the government.

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A lot of people in this area live off of welfare and some people even go as far to believe that the high crime rate has a lot to due with the matter.

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I would guess that food stamps are the most common form of welfare in the United States, but medicaid and medicare are also popular welfare programs.

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