Examlex
What is a small handheld computer that performs simple tasks such as taking notes, scheduling appointments, and maintaining an address book and a calendar?
Public Good
A product that is non-excludable and non-rivalrous, meaning it can be used by many simultaneously without diminishing the product's availability to others.
Private Good
A good, such as pizza, that is both rival in consumption and exclusive.
Regressive Tax
A tax system in which the tax rate decreases as the taxable amount increases, placing a larger burden on low-income earners.
Proportional Tax
A tax system in which the tax rate stays the same, no matter the taxable amount.
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