While the arts and culture sector can have a positive impact on the environment through initiatives such as green arts festivals, it is not a primary economic benefit.

The arts and culture sector contributed 4.2% to the U.S. GDP in 2020, according to the Bureau of Economic Analysis.

While environmental impact assessments are important for evaluating the environmental effects of arts and culture projects, they are not a type of economic impact study.

Cultural value (CV) is a measure of the non-monetary benefits that individuals derive from participating in or consuming arts and culture.

High demand for arts and culture products and services is generally not considered a challenge faced by the sector.

Total economic value (TE) is a measure of the total value that individuals derive from participating in or consuming arts and culture, including both monetary and non-monetary benefits.

Import tariffs on cultural goods are generally not used as a policy tool to support the arts and culture sector.

Producer surplus (PS) is a measure of the net benefit that producers derive from participating in or providing arts and culture products and services.

While educational institutions may offer arts and culture programs, they are not typically considered to be arts and culture organizations.

Consumer surplus (CS) is a measure of the net benefit that consumers derive from participating in or consuming arts and culture products and services.

Corporate sponsorships are not a common source of revenue for arts and culture organizations.

Social surplus (SS) is a measure of the total net benefit that society derives from participating in or consuming arts and culture products and services.

While educational programs may be offered by arts and culture organizations, they are not typically considered to be arts and culture products or services.

Total cost (TC) is the sum of fixed costs (FC) and variable costs (VC).

Conferences are not typically considered to be arts and culture events.