Welfare economics. Welfare economics is a branch of economics that uses microeconomic techniques to evaluate well-being (welfare) at the aggregate (economy-wide) level.
Noun. 1. noun phrase-a phrase that can function as the subject or object of a verb. nominal, nominal phrase. phrase-an expression consisting of one or more words forming a grammatical constituent of a sentence.. (Grammar) grammar a constituent of a sentence that consists of a noun and any modifiers it may have a noun clause, or a word, such as a pronoun, that takes the place of a noun.
Identifying a Noun. A noun is a part of speech that denotes a person, animal, place, thing, or idea. The English word noun has its roots in the Latin word nomen, which means âname.â Every language has words that are nouns. As you read the following explanations, think about some words that might fit into each category.