Fiscal Policy: Fiscal policy refers to the government's use of taxation and spending measures to influence the economy. It involves decisions about how much money should be collected through taxes and how that money is spent on public goods and services.
Monetary Policy: Monetary policy refers to the control of money supply and interest rates by a central bank (such as the Federal Reserve in the United States) in order to stabilize prices, promote economic growth, and maintain employment levels.
Trade Policy: Trade policy refers to rules and regulations implemented by governments regarding international trade. It includes measures such as tariffs (taxes on imports), quotas (limits on imported goods), and subsidies (financial support given by governments).