The term "effects" refers to any changes or differences that occur as a result of an action, event, or condition. In the context of economics and finance, it can refer to the impact of economic policies on specific sectors or industries, such as tax cuts having positive effects on businesses or government spending leading to increased employment in certain areas. Additionally, "effects" may also be used to describe the consequences or outcomes of a decision or event, such as the long-term effects of climate change on ecosystems and human populations.