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The Demand for Food Is Very Inelastic,making It an Attractive

question 147

Essay

The demand for food is very inelastic,making it an attractive target for taxation.However,some regard taxes on food as unfair.Explain why taxes on food might be regarded as unfair.

Grasp the importance of accurate measurement in the control process to identify performance discrepancies.
Discern the difference between input and output standards in the context of the control process.
Understand the allocation of scarce resources in a market economy.
Comprehend market mechanisms and their role in addressing shortages.

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