Examlex
Define each of the symbols and explain the meaning of
Tax
A mandatory financial charge or some other type of levy imposed on a taxpayer by a governmental organization in order to fund various public expenditures.
Consumer Surplus
The difference between the total amount that consumers are willing and able to pay for a good or service versus what they actually pay.
Deadweight Loss
An economic inefficiency arising when the balance for a product or service fails to be attained or is unattainable.
Tax
A necessary financial assessment or some other type of taxation levied upon a taxpayer by a government entity, intended to fund the expenditure of government and various allotments for public services.
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