Economics

A progressive tax is a tax in which the tax rate increases as the taxable amount increases. It imposes a higher rate on the rich…

Proportional Tax is an income tax system that levies the same percentage tax to everyone regardless of income. It is a tax imposed so that…

A regressive tax is a tax imposed in such a manner that the tax rate decreases as the amount subject to taxation increases. It is…

In economics, the Laffer curve illustrates a theoretical relationship between rates of taxation and the resulting levels of the government’s tax revenue. It is based…

Tax reform is the process of changing the way taxes are collected or managed by the government and is usually undertaken to improve tax administration…

The tax shift is the passing of the tax burden from one economic agent to another. It is a change in taxation that eliminates or…

A supply shock is an event that suddenly increases or decreases the supply of a commodity or service, or of commodities and services in general.…

Effective demand refers to the willingness and ability of consumers to purchase goods at different prices. In economics, effective demand (ED) in a market is…

Welfare economics is the study of how the allocation of resources and goods affects social welfare. It is a branch of economics that uses microeconomic techniques…

Economic Crisis Breakdown The economic crisis is defined as a catastrophic state of the economy at any point in time. It refers to the downward…

Agent-based computational economics (ACE) is the area of computational economics that studies economic processes, including whole economies, as dynamic systems of interacting agents. It is…

Computational economics is a research discipline at the interface of computer science, economics, and management science. It is rapidly evolving into an independent branch in…