Examlex
People live their lives automatically and by instinct.
Assets
Economic resources owned or controlled by an individual or a business, which are expected to provide future benefits.
Liabilities
Financial obligations or debts that a company owes to others, which must be settled over time through the transfer of economic benefits including money, goods, or services.
Distorting Tax
A tax that alters the economic behavior of individuals and businesses from what they would have chosen in the absence of the tax.
Economic Welfare
The overall well-being of individuals and societies, often assessed by factors such as wealth, health, and happiness.
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