What Is the Name of the Ancient System in South

question 303

Short Answer

What is the name of the ancient system in South Asia, and particularly India, that for many people still determines where they live, what they can eat and drink, and how they will make a living?

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Definitions:

Tax Schedules

Detailed charts or tables provided by tax authorities that outline the rates at which taxes are levied on different levels of income or taxable activities.

Taxable Income

The portion of an individual's or entity's income that is subject to taxation according to governing laws.

Infinite Elasticity

A theoretical situation where the quantity demanded or supplied of a product responds infinitely to changes in price; essentially, the smallest price change can lead to an unlimited demand or supply.

Excise Tax

A tax charged on specific goods and services, such as gasoline, tobacco, and alcohol.