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Direct provision of services
When the government directly delivers the goods/services to the public.
Government intervention
When a government alters the resource allocation that markets would have achieved working freely on their own.
Indirect taxes
Taxes levied on spending on goods and services. They are called indirect because while consumers contribute to part or all of the tax, it is the suppliers (firms) who collect and transfer these taxes to the government authorities (consumers pay the taxes indirectly).
Price ceiling
A maximum price, below the equilibrium price, set by the government for a particular good or service.
Price floor
A minimum price set by the government for a good, above the equilibrium price.
Regulation
Establishment of requirements and standards to regulate behaviour.
Subsidy
Monetary help (direct or indirect payment) offered by the government to firms (sometimes households) to aid in lowering costs of production.