Briefly explain the classification of Tax.
Introduction: Taxes are levied by the government on the basis of three major classes of tax rates. The classification of […]
Economics 6, UNIT-4
BA.LLB
Economics 6, UNIT-4
Explain the effects tax on production and distribution.
Introduction: Taxes can have significant effects on the distribution of income and wealth within an economy. These effects vary depending […]
Economics 6, UNIT-4
Explain the impact, incidence and shifting of tax.
Impact of taxation: Taxation on goods, income or wealth influencing economic behavior and the distribution of resources. For example higher […]
Economics 6, UNIT-4
Explain the merits and demerits of indirect tax.
Meaning: Indirect tax is a type of tax that is imposed on goods and services than on income or profits. […]
Economics 6, UNIT-4
Explain the merits and demerits of Direct tax.
Introduction: Taxes are compulsory payment to the government without expectation of definite return or benefits to the tax payer. According […]
Economics 5, UNIT-3
What is production? explain its types.
Meaning: Production involves the use of various inputs or factors services to produce output. In economics production means transformation of […]
Economics 6, UNIT-2
Explain the Keynes savings and investment theory.
Introduction: Saving function is the counter part of consumption function because S=Y-C. Therefore S=f(Y). Saving means economic surplus, it may […]
Economics 6, UNIT-2
Explain the liquidity preference theory of interest?
Introduction: J.M Keynes created the theory of liquidity preference theory of interest to explain the role of the interest rate […]
Economics 6, UNIT-2
Explain Keynesian psychological law of consumption.
Introduction: The Keynesian concept of consumption function stems from the fundamental psychological law of consumption which states that there is […]