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In 2005,journalist Thomas Friedman wrote an influential book declaring the world was now "flat," by which he meant that the Internet and global communications had greatly increased the economic and cultural advantages of developed countries.
Excise Tax
A tax on the sale or use of specific products or transactions, typically integrated directly into the cost of the good.
Price Elasticity
A measure of how much the quantity demanded of a good responds to a change in the price of that good, often influenced by the availability of substitutes.
Benefits Principle
A concept suggesting that people should pay taxes based on the benefits they receive from government services, aiming for fairness in tax distribution.
Taxes
Compulsory financial charges or some other type of levy imposed upon a taxpayer by a governmental organization in order to fund government spending and various public expenditures.
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