Examlex
Horizontal equity is achieved when individuals of the same economic capacity pay the same amount of taxes over a given period.
Price Elasticities
Measures of the sensitivity of the quantity demanded or supplied of a good to a change in its price.
Tax Burden
The measure of the total amount of taxes that individuals, businesses, or other entities must pay relative to their income or consumption.
Elastic Supply
characterizes a market situation where the quantity supplied changes significantly in response to changes in price.
Tax Burden
The total amount of taxes imposed on an individual, corporation, or other entity by the government, often expressed as a percentage of income.
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