How do markets allocate resources how do taxes affect, Operation Management

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How do markets allocate resources how do taxes affect

1- How do markets allocate resources?

2- How do taxes affect market outcomes? How do the effects depend on whether the tax is imposed on buyers or sellers? Explain the answer with the help of graphs.

3- Discuss the factors that leads to shift in demand curve and supply curve with help of one example .Show how shift in demand and supply curve take place.

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