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Government Imposes
Actions taken by the government to regulate, tax, or otherwise exert authority over individuals and organizations, typically with the aim of affecting economic outcomes.
Tax
A compulsory economic imposition or another variety of levy tasked to a taxpayer by a governmental structure to provision government financial obligations and various public welfare expenses.
Deadweight Loss
The loss of economic efficiency that occurs when the equilibrium for a good or a service is not achieved or is not achievable, leading to a suboptimal allocation of resources.
Equilibrium Quantity
The quantity of goods or services that is supplied and demanded at the price where supply and demand are equal.
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