--%>

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 : Labor Unions and Union membership I

    I have a problem in economics on Labor Unions-Union membership. Please help me in the following question. The union membership is most widespread among: (1) White collar workers. (2) Managers and Supervisors. (3) Blue collar workers. (4) Young, upward

  • Q : Decisions of firms and households for

    Microeconomic analysis is more attached than macroeconomics along with the: (1) banking and monetary systems. (2) rates of joblessness and inflation. (3) inequity caused by main depressions. (4) rate of economic development. (5) decis

  • Q : Unregulated monopoly economic efficiency

    Mainly economists object to unregulated monopoly primarily since: (w) economies of large scale operation may be attained. (x) technological advance may be fostered. (y) economic efficiency would be promoted. (z) economic efficiency may be decreased.

  • Q : Problem regarding Privatization I have

    I have a problem in economics on Problem regarding Privatization. Please help me in the following question. The procedure of transforming government-run production facilities into ‘for-profit’ businesses is: (i) Privatization. (ii) Cartelization. (iii) Cap

  • Q : Price crosses elasticity of demand when

    When a 2% raise in the price of Kibbles causes a 1% raise in the quantity sold of Bits, in that case their price cross elasticity of demand is approximately _____ and such goods are _____. (w) -2; complements (x) 0.5; substitutes (y) 2; substitutes (z

  • Q : What is Budget line Budget line : This

    Budget line: This refers to all combinations of goods that a consumer can purchase with his whole income and price of two goods.

  • Q : Increasing elasticity of the demand for

    The elasticity of the demand for labor tends to rise as there are raises within the: (1) amount of capital utilized in a production process. (2) rate of automation in an industry. (3) difficulty in substituting between different resources. (4) share o

  • Q : Calculations of price elasticity of

    At a price of $50, the demand for DVD games is roughly: (w) perfectly elastic. (x) perfectly inelastic. (y) unitarily elastic. (z) relatively inelastic.

    Q : State marginal propensity to consume

    Marginal propensity to consume: It is stated as the measure of rate at which the aggregate consumption expenditure changes as the national income changes. MPC= C/Y

  • Q : Income related to positive demand I

    I have a problem in economics on Income related to positive demand. Please help me in the following question. The goods for which the demands are positively related to income are termed as: (i) Normal goods. (ii) Inferior goods. (iii) Substitute neces