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TAX RATE: The percent of the tax base that is collected as tax. The tax rate can be a flat, or proportional, rate, meaning it is a constant percent of the tax base regardless of the size or value of the base. Or the tax rate can change as the tax base changes. If the tax rate increases, the tax is progressive. If the tax rate decreases, the tax is regressive.
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THIRD RULE OF INEQUALITY: The third of seven basic rules of the economy. It is a fact of life that resources, income, and wealth are not equally distributed. Some people have more and some people have less. Why is this so? We can look to the age-old distinction between nature and nurture for insight. On the nature side, some people are born with more talents, abilities and intelligence than others, which they use to gain ownership and control of income-generating and wealth-producing resources. On the nurture side, some people work harder to develop skills, acquire education, and uncover opportunities that lead to ownership and control of income-generating and wealth-producing resources (human capital). See also | seven rules | resources | income | wealth | income distribution | wealth distribution | ownership and control | equity | education | human capital |
Recommended Citation:THIRD RULE OF INEQUALITY, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: November 16, 2025].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: third rule of inequality
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AVERAGE REVENUE, MONOPOLY The revenue received for selling a good per unit of output sold, found by dividing total revenue by the quantity of output. Average revenue often goes by a simpler and more widely used term... price. For a monopoly average revenue is greater than marginal revenue. Average revenue for a monopoly is often depicted by a negatively-sloped average revenue curve.
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BEIGE MUNDORTLE
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Today, you are likely to spend a great deal of time browsing through a long list of dot com websites wanting to buy either a rechargeable battery for your computer or shoe laces for your snow boots. Be on the lookout for mail order catalogs with hidden messages.
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The first U.S. fire insurance company was established by Benjamin Franklin in 1752 in Philadelphia.
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"Old minds are like old horses; you must exercise them if you wish to keep them in working order. " -- John Adams, 2nd US president
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AASB
American Assocation of Small Business
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