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Masterview,Inc.purchased a new computer system,which included some computer programs.When Masterview developed financial troubles,two competing creditors of Masterview claimed the right to repossess the computer system and the programs.The UCC distinguishes "software" from "goods" and treats them differently for some purposes,which would be important in this situation.
Previously Existing Distortions
Inefficiencies or imperfections already present in a market before a new policy or change was implemented.
Distortionary Tax
A tax that causes people to alter their behavior and economic decisions from what they would have chosen in the absence of the tax.
Principle of Neutrality
The concept that certain measures, such as fiscal policies, should be designed to have a neutral effect on economic choices and competition.
Economic Decisions
Choices made by individuals, businesses, or governments regarding the allocation of scarce resources to satisfy needs and desires.
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