Examlex
Which statement is not correct?
Tax
A required monetary payment or different kind of tax levied on a taxpayer by government entities to finance government operations and public services.
Supply Function
A mathematical representation showing the relationship between the quantity of a good supplied by producers and various factors influencing that quantity, such as the good's price.
Demand Function
A mathematical representation showing the quantity of a good that consumers are willing and able to purchase at various prices.
Subsidy
A financial contribution granted by the government to reduce the production costs and encourage the supply of certain goods or services.
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