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TAX BASE: An item or activity that is subject to taxation. The most common tax bases are income, consumption, and wealth. The personal income tax and Social Security tax are two common taxes levied on the income base. Sales taxes are the most common taxes levied on the consumption base. Property taxes are the most common taxes levied on the wealth base.
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PERFECTLY INELASTIC An elasticity alternative in which changes in one variable (usually price) do NOT cause any changes in another variable (usually quantity). Quantity is totally, completely unresponsive to price. Quantity just does not change, regardless of changes in price. This characterization of elasticity is most important for the price elasticity of demand and the price elasticity of supply. Perfectly inelastic is one of five elasticity alternatives. The other four are perfectly elastic, relatively elastic, relatively inelastic, and unit elastic.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time wandering around the downtown area hoping to buy either one of those "hang in there" kitty cat posters or a velvet painting of Elvis Presley. Be on the lookout for cardboard boxes.
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In his older years, Andrew Carnegie seldom carried money because he was offended by its sight and touch.
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"Good plans shape good decisions. That's why good planning helps to make elusive dreams come true." -- Lester Bittle, Author
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EBC
Electronic Business Communications
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