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Suppose a tax is imposed on the seller for each unit of "Chocochip," a candy bar.How will this tax affect the consumers? Explain with a diagram.
Efficiency
The ability to accomplish a job with a minimum expenditure of time and effort, or the ratio of the output to the input of any system.
Sustainable
The practice of using natural resources in a way that maintains ecological balance and ensures availability for future generations.
Full-cost Pricing
The practice of setting prices based not only on production costs but also on accounting for environmental and social costs associated with the product or service.
Market Price
The current price at which an asset or service can be bought or sold in a particular marketplace.
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