Problem
Purpose
The purpose of this problem is to enhance learners' ability to analyze the effects of elasticity on taxation.
Task
1) Define the term "elasticity" and discuss various types of elasticities. Following that evaluate the effects of elasticity on taxation and provide some Malaysian examples.
2) Definition of "elasticity" and discussion on the various types of elasticities
3) Description of taxation (eg. introduction to taxation, types and features of tax, purpose and advantages of taxes)
4) Explanation of relationship between tax burden and elasticity.