--%>

Define Indirect taxes

Indirect taxes: Whenever the liability to pay tax is on one person and the burden of that tax falls on another person, it is termed as indirect tax. Illustrations are: sales tax, excise duty, VAT, tax on services and so on.

   Related Questions in Microeconomics

  • Q : Problem based on production

    Refer to the given production possibilities curve and give  answer of following question . At the onset of the Second World War the Soviet Union was already at full employment. Its economic adjustment from peacetime to wartime can best be described by the movemen

  • Q : Increase revenues when price falls When

    When the price elasticity of demand for fried cheesy grits at Pixie’s Breakfast Grill is two, in that case a price cut of $2.80 to $2.00 per serving of grits would be most probably to: (1) reduce Pixie’s revenues from grits by roughly fort

  • Q : Strategies of monopolistic competitors

    The strategies of monopolistic competitors invariably comprise: (1) industrial espionage. (2) predatory pricing. (3) product differentiation. (4) price-fixing. (5) cutthroat competition. I need a good answer on the

  • Q : Labor Union History-AFL-CIO merger

    Preceding to the AFL-CIO merger in the year1955: (i) The AFL was an alliance of the industrial unions. (ii) The CIO was alliance of the craft unions. (iii) Strikes over which the unions would symbolize workers were common. (iv) The union movement was limited to public

  • Q : Meaning of tax Meaning of tax : Tax is

    Meaning of tax: Tax is a legally compulsory payment imposed on the people by the government. There are two kinds of taxes: Direct taxes and Indirect taxes.

  • Q : Product Differentiation During product

    During product differentiation, the firms attempt to: (w) become price takers. (x) gain a degree of market power over their pricing and sales of their products. (y) increase the supply of their products. (z) raise the price elasticity of the demand fo

  • Q : Price discrimination to increase

    A firm can practice price discrimination to increase its profitability when this: (w) confronts a perfectly elastic demand curve. (x) is a pure quantity adjuster. (y) has some market power and is able to separate its customers into various groups alon

  • Q : Attribute Demand Curve for Bonds A

    A demand curve for bonds moving to the right is probably to be attributable to: (w) a business cycle recession. (x) lower expected (future) interest rates. (y) an increase into the expected rate of inflation. (z) an increase in the liquidity of altern

  • Q : Problem on equilibrium market price I

    I have a problem in economics on equilibrium market price. Please help me in the following question. The equilibrium market price subsists only if: (1) Quantity demanded equivalents the quantity supplied. (2) Surpluses exceed the shortages. (3) Expert

  • Q : Goals of the Firm Most of the

    Most of the economists believe firms tend to proficiently maximize the profits since of: (i) Stockholder pressure. (ii) Competition for the management positions. (iii) Principal-agent conditions. (iv) The chance of corporate take-over.

    Discover Q & A

    Leading Solution Library
    Avail More Than 1430087 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads
    No hassle, Instant Access
    Start Discovering

    18,76,764

    1932933
    Asked

    3,689

    Active Tutors

    1430087

    Questions
    Answered

    Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

    Submit Assignment

    ©TutorsGlobe All rights reserved 2022-2023.