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CLASSIFICATION OF TAXES
Taxes can be classified on the basis of:
a. Impact of the taxes
It means on whom the tax is imposed. On the other hand, incidence of the tax refers to who had to bear the burden of the tax. In this case the taxes may be:
b. Rates of tax
The rate of tax is the percentage of the tax base to be taken in each situation. In this case the taxes may be:
Plot the demand schedule and draw the demand curve for the data given for Marijuana in the caseabove.
Schumpeter Description According to Schumpeter, a cycle represents wave like deviations in business activity from the equilibrium or trend line. There are equilibrium points an
Q. Explain the Efficiency wage model? Efficiency wage models such as Shapiro and Stiglitz (1984) suggest wage rents as an addition to monitoring, because this gives employees a
Perfect Competition The model of perfect competition describes a market situation in which there are: i. Many buyers and sellers to the extent that the supply of
classification of costs
Factors determining Elasticity of demand Ease of substitution. Nature of the commodity i.e. whether it is a necessity of life, luxury or addictive. Consumers
WHAT ARE THE PRINCIPLES OF MANGERIAL ECONOMICS
Features of Monoploy in Monopolistic Competition Monopolistic competition has the following features from monopoly : As the products are differentiated substitutes, each b
Suppose the consumer can choose either coffee shop 1 or coffee shop 2, but not both. - Assuming that other things (such as location, quality of coffee, and so on) are the same,
show diferent auothers
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