____________________ ____________________ Is the Expense That Remains Constant, Regardless of the Amount

question 6

Short Answer

____________________ ____________________ is the expense that remains constant, regardless of the amount of goods that are sold.

---

Definitions:

Economic Income

The total value of all earnings received over a period, including wages, profits, rents, and any gains from the sale or appreciation of assets.

Net Worth

The total assets minus total liabilities of an individual or entity, representing the value of their economic position.

Consumption

The use of goods and services by households or individuals, representing the final use of produced goods and services in an economy.

Horizontal Equity

is a principle in taxation that mandates taxpayers with similar income or assets should be taxed at the same rate.