Examlex
How does prejudice qualify as being functional for society?
Burden Of The Tax
The impact of a tax on the economic welfare of individuals, showing who ultimately bears the cost of the tax.
Excise Tax
A direct tax placed on manufactured goods, and is often levied at the time of manufacture, rather than at sale.
Inelastic Supply
A market condition where the quantity supplied of a good does not change significantly when its price changes.
Inelastic Demand
The case in which the price elasticity of demand is less than 1.
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