3 Tutorials that teach Taxes and Subsidies
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Taxes and Subsidies

Taxes and Subsidies

Author: Colton Cranston

This lesson covers taxes and subsidies.

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Terms to Know
  • Elasticity (demand, supply)

    The change in quantity demanded or supplied resulting from a change in the price of a good or service—own-price elasticity.

  • Excise tax

    Tax paid by supplier/producer of a good (can be imposed by any government strata--federal, state, local).

  • Subsidy

    A sum that is paid (typically by a government entity) to either suppliers or consumers to assist in the production or purchase of a good or service.

  • Tax burden

    The proportion of tax borne between a supplier and consumer of a good where either party may be the original tax recipient.