Enjoyment of the necessary resources for a worth-while life. The welfare state is the attempt to organize society so that at least the minimum income and public services necessary for this are available to all a country's inhabitants. Welfare or normative economics is the study of how economic activities ought to be organized, as distinguished from positive economics, which studies how economies actually do work. Welfare criteria are rules for judging whether one state of the economy is better or worse than another. ‘The welfare’ is UK slang for the social security authorities responsible for income support, and ‘Welfare’ is US terminology for the income support itself.

• exhaustible resources
• Eximbank
• exit
• exit, freedom of
• exit price
• exogenous expectations
• expectations
• expectations-augmented Phillips curve
• expectations, model-consistent
• expected inflation
• expected utility
• expected value
• expenditure
• expenditure-based deflator
• expenditure changing
• expenditure method
• expenditure, public
• expenditure switching
• expenditure tax
• exploitation
• exponent
• exponential
• exportables
• export concentration
• export control