How Has the Internet Empowered Customers? Give an Example

question 59

Essay

How has the Internet empowered customers? Give an example.

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Definitions:

Tax Burden

The total amount of taxes paid by individuals or businesses, expressed as a share of their income or in absolute terms.

Excise Tax

A tax imposed on specific goods, services, or transactions, often included in the price of the product, like gasoline or alcohol.

Tax Amount

The total sum of money required by a government from individuals or businesses as a form of revenue.

Deadweight Loss

A loss of economic efficiency that can occur when the free market equilibrium for a good or a service is not achieved.