Describe the Four Decision Points That People Must Pass Through

question 76

Essay

Describe the four decision points that people must pass through before giving help, and explain what may hinder them from passing through these points.

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Definitions:

Tax Revenue

The tax revenue that governments obtain.

Equilibrium Quantity

The amount of products or services available and sought after at the balance price within a marketplace.

Opportunity Cost

Opportunity cost is the loss of potential gain from other alternatives when one alternative is chosen.

Consumer Surplus

The separation between the total amount consumers are equipped and willing to pay for a good or service and what is effectively paid.