What Effect Does a Tax on a Good Have on Prices

question 60

Multiple Choice

What effect does a tax on a good have on prices

• A)It raises the price buyers pay and lowers the price sellers receive.
• B)It raises both the price buyers pay and the price sellers receive.
• C)It lowers both the price buyers pay and the price sellers receive.
• D)It lowers the price buyers pay and raises the price sellers receive.

---

Definitions:

Group Dynamics

The study of groups and their development, structure, and interaction patterns, influencing the behavior and performance of individuals within the group.

Individualistic Perspective

A viewpoint emphasizing the importance and value of the individual, often at the expense of community or collective considerations.

Group Perspective

The collective viewpoint or attitude of a group, shaped by the members' shared beliefs, experiences, and goals.

Sociology

The study of human society and social behavior, including the origins, development, and structures of human interactions and institutions.