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3 Tutorials that teach Tax/Subsidy
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Tax/Subsidy

Tax/Subsidy

Author: Dan Laub
Description:

This lesson covers tax and subsidy.

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Terms to Know
Elasticity

Measurement of change in quantity demanded (supplied) which indicates the sensitivity of one variable to characteristics of another variable or income.

Subsidy

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

Tax

An additional cost of supply or purchase levied to alter consumer behavior and/or increase government revenue.

Tax Incidence

The economic "burden" of a tax.