Which of the Following Is a Characteristic of Perishability

question 3

Multiple Choice

Which of the following is a characteristic of perishability?

• A)Consumption cannot be stored for future use
• B)There is a need to match supply and demand
• C)A service cannot be stored and sold later
• D)All of the above are characteristics of perishability

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Definitions:

Lump-Sum Tax

A tax that is a set amount, no matter the taxpayer's income level or economic activity.

Proportional Tax

A taxation framework where the same rate is consistently applied to everyone, with no variation based on the amount of income.

Marginal Tax Rate

The rate at which tax is charged on an additional dollar of income.

Average Tax Rate

The ratio of the total taxes paid to the total taxable income, showing the portion of income that goes to taxes.