Академический Документы
Профессиональный Документы
Культура Документы
1. what to produce
2. how to produce
3. for whom to produce
Factor of production
1. Land
2. LABOR
3. capital
4. entrepreneurship
factor of supply
1. Cost of production
2. Price of related goods
3. No. of firms in the industry
4. seasonality
5. Expectation of future price
Definations
Law of Demand - when price increase quantity demanded decreases when price
decreases quantity demanded increases. its inversely proportional or negatice
Law of supply - when price increases quantity supply increases when price
deacreases, quantity suplly decreases.
Division of Economics
1. Microeconomics
2. Macroeconimics
Purpose of Taxation
1. influence population trents of trade
2. reallocate resources
3. create of sense of identity
TYPOLOGIES OF COOPERATIVES
ACCORDING TO LEVEL OF COOPERATIVES
1. Primary - members of which are natural
2. Secondary - members of which are primaries
3. Tertiary - members of which are secondary upward to one or more apex
organization
Types of taxes
1. Direct taxes
2. the burden cannot be shifted tot he third party
3. Direct taxes are based on income and wealth
4. In most cases direcct taxes are progressive in nature
5. Direct taxes are compulsory in nature
6. Examples: income tax residence tax, real state, immigration tax
8. the tax burden can be shifted to the third party
9. Inderict taxes are based on expenditure and consumption.
10. All Inderict taxes are regressive in nature
11. Indirecttaxes are optional in the sense that they can be avoided
10.