When the demand for a good is fairly inelastic, the burde...
When the demand for a good is fairly inelastic, the burden of an indirect tax falls
More on the consumers of the goods
More on the sellers of the goods
On sellers and consumers equally
Completely on the capital
Correct answer is A
Relatively or fairly inelastic demand is one where the percentage change in demand is less than the percentage change in the price of a product. This means, a change in price will lead to a lesser change in the quantity demanded.
An indirect tax is a tax levied on goods and services. The consumer will bear the extra cost of such goods, because a rise in its price will lead to a lesser change in the quantity the consumers are willing to buy.
The logical sequence of basic concepts in economics is ...
Which of the following is NOT a major role of OPEC in production, and marketing of petroleum? ...
Goods which have to be paid for are known as ...
The term M \(^3\) comprises M \(^1\) together with deposits on deposit account held by ...
The profit of the producers can be calculated as the ...
Goods whose demand vary directly with money income are called? ...
During a conflict between management and workers, the union's bargaing power is based on ...
If total income is N15m and total consumption is N3m, then the average propensity to consume is ...
Gross National Product (GNP) less depreciation is known as ...