|
|
TAX: Any sort of forced or coerced payment to government. The primary reason government collects taxes is to get the revenue needed to finance public goods and pay administrative expenses. However, the more astute leaders of the first estate have recognized over the years that taxes have other effects, including--(1) redirecting resources from one good to another and (2) altering the total amount of production in the economy. As such, taxes have been used to correct market failures, equalize the income distribution, achieve efficiency, stabilize business cycles, and promote economic growth.
Visit the GLOSS*arama
|
|

|
|
|
PRICE RATIONING The distribution or allocation of a limited commodity using markets and prices. Rationing is needed due to the scarcity problem. Because wants and needs are unlimited, but resources are limited, available commodities must be rationed out to competing uses. Markets ration commodities by limiting the purchase only to those buyers willing and able to pay the price.
Complete Entry | Visit the WEB*pedia |


|
|
BEIGE MUNDORTLE [What's This?]
Today, you are likely to spend a great deal of time flipping through the yellow pages wanting to buy either a replacement washer for your kitchen faucet or a stretchable, flexible watch band. Be on the lookout for slightly overweight pizza delivery guys. Your Complete Scope
This isn't me! What am I?
|
|
|
A half gallon milk jug holds about $50 in pennies.
|
|
|
"The past is a foreign country; they do things differently there." -- Leslie Poles Hartley, Writer
|
|
NIA National Income Accounts
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|

|