Examlex
Explain the terms dominant and recessive.Use the concepts of phenotype and genotype in your explanation.
Burden Of The Tax
The burden of the tax refers to the impact of a tax on the economic welfare of stakeholders, indicating who ultimately bears the cost of the tax.
Elasticity Of Demand
A measure of how much the quantity demanded of a good responds to a change in the price of that good, quantitatively measured as the percentage change in quantity demanded relative to a percentage change in price.
Elasticity Of Supply
A measure of how much the quantity supplied of a good changes in response to a change in its price.
Tax Revenue
It's the income that is collected by governments through taxation.
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