Examlex
Political scientists argue about whether descriptive or substantive representation matter more. Define both types of representation and summarize the arguments on both sides. Use concrete examples to support your definitions. Then, pick a side of the debate and briefly explain why you agree with that side.
Buyer's Income
Buyer's Income is the total earnings or revenue available to consumers that influences their ability to purchase goods and services.
Burden of a Tax
The economic impact of a tax on the welfare of buyers and sellers, which can affect market behavior and economic efficiency.
Perfectly Elastic
A situation in economics where the quantity demanded or supplied changes by an infinite amount in response to any change in price.
Perfectly Inelastic
A market scenario where a change in price does not affect the quantity demanded or supplied, often represented with a vertical demand or supply curve.
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