Which of the Following Types of Taxes Is a Consumption

question 47

Multiple Choice

Which of the following types of taxes is a consumption tax?

• A)Estate tax
• B)Income tax
• C)Gift tax
• D)Use tax

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Definitions:

Surplus

The situation that occurs when the quantity supplied of a good exceeds the quantity demanded at a given price.

Market For Candy

A consumer market segment dealing with the buying and selling of various types of candies.

Price

The amount of money required to purchase a product or service.

Demand Curve

A graphical representation showing how the quantity demanded of a good or service varies with its price.