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GRADUATED TAX: A type of progressive tax in which the tax rate is higher as the value of the taxed item increases. For example a graduated sales tax would be one with a 5 percent tax rate on the first $10 of sales, 10 percent tax rate on the any sales between $10 and $50, then a 15 percent rate for anything above $50. Our personal income tax system uses graduated taxes.
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Lesson 5: Market Demand | Unit 1: Buying Basics
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Page: 2 of 20
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More we need to consider about demand. First the demand price. Demand price is the maximum price that buyers would be willing and able to pay for a given quantity of a good. - The emphasis is on maximum. Buyers have an upper limit on the price that they would be willing and able to pay for a good.
- Buyers are willing and able to pay a lower price. In fact, they would be glad to get it for free.
- The maximum demand price is based on the fact of economic life that people prefer more to less.
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SCIENCE A discipline, or topic of study, that uses the scientific method to investigate and explain the operation of the world by testing and verifying hypothesized relations. Science is commonly divided into physical sciences (including chemistry, physics, and biology) and social sciences (including economics, sociology, and political science). Science is not just a subject, but a method of investigation using the scientific method.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time at an auction seeking to buy either storage boxes for your income tax returns or an AC adapter for your CD player. Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
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This isn't me! What am I?
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A lump of pure gold the size of a matchbox can be flattened into a sheet the size of a tennis court!
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"Plans are only good intentions unless they immediately degenerate into hard work." -- Peter Drucker, management consultant
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ICAPM
Intertemporal Capital Asset Pricing Model
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