Identify and Describe Three of the Factors That Contribute to One's

question 121

Essay

Identify and describe three of the factors that contribute to one's initial liking for another person.Provide illustrative examples where appropriate.

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Definitions:

Ability-to-Pay Principle

A taxation principle that suggests taxes should be levied based on the taxpayer's ability to pay, implying that those with higher incomes should pay more taxes.

Progressive Tax

A tax system where the tax rate increases as the taxable income or wealth increases, meaning higher earners pay a larger percentage of their income than lower earners.

Regressive Tax

A tax system where the tax rate decreases as the amount subject to taxation increases, placing a heavier burden on lower-income earners.

Market Activity

The collective buying and selling of goods and services, including financial transactions, in an economy.