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Economy
A system of production, distribution, and consumption of goods and services among individuals and organizations in a society.
Taxable Income
The amount of income that is used to calculate how much tax an individual or a company owes to the government.
Progressive
Referring to policies or tax rates that increase proportionally with the ability to pay, targeting a higher burden on wealthier entities or individuals.
Price Elasticity
A measure of how much the quantity demanded of a good responds to a change in the price of that good, often used to understand the sensitivity of demand in relation to price changes.
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