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TAX PROPORTIONALITY: The proportion of income paid in taxes at different levels of income. In some taxes the proportion of income paid in taxes increases with income in other cases it decreases. And in still other cases, it remains the same. The three basic types of taxes are proportional taxes, progressive taxes, and regressive taxes. Because almost everyone would like to pay fewer taxes (and presumably have others pay more), tax proportionality is a the center of political controversy. Higher incomes prefer regressive taxes and lower incomes prefer regressive taxes.

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Lesson Contents
Unit 1: Selling Basics
  • The Concept
  • Supply Price
  • Quantity Supplied
  • Unit 1 Summary
  • Unit 2: Law of Supply
  • Definition
  • Production Cost
  • Unit 2 Summary
  • Unit 3: Supply Curve
  • Schedule
  • Curve
  • Space
  • Unit 3 Summary
  • Unit 4: Determinants
  • Ceteris Paribus Factors
  • Shifters: Increase
  • Shifters: Decrease
  • Types
  • Ch..Ch..Changes
  • Unit 4 Summary
  • Unit 5: Scarcity
  • Limited Resources
  • Unit 5 Summary
  • Unit 6:
  • Unit 6 Summary
  • Course Home
    Supply

    This supply lesson provides an introduction into selling a wide range of goods. In fact, this supply topic does more than offer insight into selling behavior. It's also the second half of the market analysis -- the first half being demand. And to reiterate what I noted during the demand lesson, market analysis is one of the most widely used tools in the study of economics that can be used to explain a lot of economic phenomenon. Of course to use markets, we need both demand and supply. And supply part is our current lesson.

    • The first unit of this lesson introduces the basic concept of supply and a few related terms such as supply price and quantity supplied.
    • In the second unit then we move into a discussion of the law of supply, which captures the basic relation between supply price and quantity supplied.
    • The third unit then develops the supply curve, which is the graphical embodiment of the supply concept.
    • Moving onto the fourth unit, we examine how the five basic supply determinants cause the supply curve to shift from one location to another.
    • And in the fifth and final unit, we make a connection between supply and the limited resources part of scarcity.

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    BANK ASSETS

    What a bank owns, including loans, reserves, investment securities, and physical assets. Bank assets are typically listed on the left-hand side of a bank's balance sheet. Bank liabilities, what a bank owes, are listed on the right-hand side of a bank's balance sheet. Net worth is the difference between assets and liabilities. The largest asset category of most bank is loans, which generates interest revenue. A critical asset category used to maintain the safety of deposits is reserves (vault cash and Federal Reserve deposits).

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    APLS

    GRAY SKITTERY
    [What's This?]

    Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway seeking to buy either a rechargeable flashlight or storage boxes for your computer software CDs. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
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    This isn't me! What am I?

    On a typical day, the United States Mint produces over $1 million worth of dimes.
    "An idea is never given to you without you being given the power to make it reality."

    -- Richard Bach, Author

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