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What are the two basic mechanisms for transferring property to individuals free of gift tax?
Public Good
Services or commodities made available to every person in a society free of cost, courtesy of either the government or non-governmental organizations, devoid of profit objectives.
Marginal Benefit
Marginal Benefit is the additional satisfaction or utility that a person receives from consuming an additional unit of a good or service.
Marginal Cost
The supplementary expense associated with creating an additional unit of a product or service.
Principal-Agent Problem
A scenario in which there is a conflict of interest between a party that delegates work (principal) and the party that performs the work (agent).
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