Question

write about the economic provision​

Answer 1

Answer:

Economic provisions include monetary value of wage increases, loan benefits, bonuses, allowances, retirement plan, and other fringe benefits. On the other hand, non-economic clauses include union security clauses, grievance procedures, labor-management cooperation schemes, and other provisions without monetary value.

Answer 2

The provision which is financed through the budget and can be used without any direct payment is called public provision. Public provision can be obtained without any direct payment.

Public Production: When goods are produced directly by the government is called public production.Public goods produced by the government can be obtained with payment