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Tax
A compulsory financial charge or some other type of levy imposed upon a taxpayer by a governmental organization in order to fund government spending and various public expenditures.
Price Elasticity
A gauge for understanding the degree to which the demand for a product changes in response to its price fluctuation.
Supply
The total amount of a product or service that is available for purchase at any given price level in a given market.
Quantity Supplied
The total amount of a particular good or service that producers are willing and able to sell at a given price over a specific time period.
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