Transfer Payments are considered redistribution of money among segments of society to help those in need. Transfer Payments were designed to enable the government to redistribute money among various segments of society. It is the principal way in which the government attempts to reduce social inequality (unequal sharing of social rewards and resources) by redistributing money among segments of society. Social security and unemployment insurance are examples of Transfer Payments. This question is related to Sociology.
Transfer Payments are any expenditure by the government for which it receives no goods or services in return (payments to individuals such as welfare and other government benefits).
