|
|
ALLOCATION EFFECT: The goal of imposing taxes to change the allocation of resources, that is, to discourage the production, consumption, or exchange or one type of good usually in favor of another. This is one of two reasons that governments impose taxes. The other reason is the revenue effect. Because people would rather not pay taxes, taxes create disincentives to produce, consume, and exchange. If society deems that less of a particular good, such as alcohol, pollution, or cigarettes are "bad," then a tax can reduce its production and consumption, and thus change the allocation of resources.
Visit the GLOSS*arama
|
|
|
|
|
PRODUCTION STAGES The three stages of production are characterized by the slopes, shapes, and interrelationships of the total, marginal, and average product curves. The first stage is characterized by a positive slope of the average product curve, ending at the intersection between the average product and marginal product curves; the second stage by continues up to the point in which the marginal product becomes negative, at the peak of the total product curve; and the third stage exists over the range of in which the total product curve is negatively sloped. In Stage I, average product is positive and increasing. In Stage II, marginal product is positive, but decreasing. And in Stage III, total product is decreasing.
Complete Entry | Visit the WEB*pedia |
|
|
PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time flipping through the yellow pages trying to buy either a video game player or an AC adapter that won't fry your computer. Be on the lookout for broken fingernail clippers.
Your Complete Scope
This isn't me! What am I?
|
|
|
In the Middle Ages, pepper was used for bartering, and it was often more valuable and stable in value than gold.
|
|
|
"Defeat is simply a signal to press onward. " -- Helen Keller, author, lecturer
|
|
SIPP
Survey of Income and Program Participation
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
