Compare and Contrast Each of the Following Pairs of Economic

question 37

Essay

Compare and contrast each of the following pairs of economic terms:
a.Ability-to-pay principle versus benefits-received principle
b.Merit and demerit goods
c.Government purchases versus government expenditures
d.Means-tested and non-means-tested transfer payments
e.Progressive tax versus regressive tax
f.Public choice theory and public interest theory analyses of choices in the public sector

---

Definitions:

Ownership Ratio

The proportion of a company or property owned by an individual or entity, often expressed as a percentage.

Business Value

Business value refers to the importance or worth that a company or project holds for its stakeholders, typically measured in terms of revenue, profitability, and market share.

Lottery Prize

A monetary or valuable award given to a winner in a lottery.

Equivalent Ratio

A ratio obtained from another ratio by multiplying each term by the same number, or by dividing each term by the same number.