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July 11, 2025 

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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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MONOPSONY, FACTOR MARKET ANALYSIS: The analysis of a factor market characterized by monopsony indicates that the single buyer maximizes profit by equating marginal revenue product to marginal factor cost. This results in a lower price and smaller quantity than achieved with perfect competition. As such, it does not achieve an efficient allocation of resources. Monopsony is combined with monopoly to form a bilateral monopoly market structure.

     See also | factor market analysis | perfect competition, factor market analysis | monopoly, factor market analysis | bilateral monopoly, factor market analysis |


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MONOPSONY, FACTOR MARKET ANALYSIS, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: July 11, 2025].


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SOCIAL SCIENCE

The scientific study of society--of human behavior and of social interactions. Economics is one of several social sciences. Others are sociology, political science, and anthropology. Economics is considered a social science because it seeks to explain how society deals with the scarcity problem.

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