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1: A government decides to impose an indirect tax on unhealthy drinks. Discuss the consequences for the stakeholders in these markets. 2: Explain two reasons why a government might want to subsidize a food or service. 3: Discuss the view that governments should tax the consumption of gasoline (petroleum). 4:Read More
1: Explain how the incidence of an indirect tax depends on the price elasticity of demand and the price elasticity of supply. 2: Using diagrams, explain how the incidence of an indirect tax may be affected by the price elasticity of demand. 3: Explain the factors which might influence ofRead More
Chapter 2: Competitive Markets: Demand and Supply 1: Explain how the price mechanism reallocates resources when there is an increase in demand for a good or service. 2: With reference to the concept of excess demand, explain how a decrease in supply of a good would lead to a newRead More
Today everybody talks about globalization, so how does a local get a global perspective? it starts from the schooling days, that is education. Education is the start of globalization and IB(International Baccalaureate) promises to implement this thinking in their educational program. IB offers educational as well as overall development. IBRead More
Chapter 3 Elasticities Explain how the incidence of an indirect tax depends on the price elasticity of demand and the price elasticity of supply. [10] Using diagrams, explain how the incidence of an indirect tax may be affected by the price elasticity of demand. [10] Explain the factors which mightRead More
