Explain Why a 10 Percent Tax Would Be More Destructive

question 131

Essay

Explain why a 10 percent tax would be more destructive in an industry where the demand for the product is highly price elastic as opposed to another industry where product demand is price inelastic.

---

Definitions:

Connotations

The associated or secondary meaning of a word or expression in addition to its explicit or primary meaning.

Terms

Specific words or expressions used within a particular subject or field.

Concept

A general idea or understanding that is formed by merging particular instances or observations.

Metaphor

The use of a word or expression in a way that does not match its literal meaning, by attributing it to an object or action unrelated to its actual significance.