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The effect of this type of tax can be illustrated on a standard supply and demand diagram. Without a tax, the equilibrium price will be at Pe and the equilibrium quantity will be at Qe. After a tax is imposed, the price consumers pay will shift to Pc and the price producers receive will shift to Pp. The consumers' price will be equal to the ...
The commodity status of animals is the legal status as property of most non-human animals, particularly farmed animals, working animals and animals in sport, and their use as objects of trade. [ 1 ] [ 2 ] [ 3 ] [ n 1 ] In the United States, free-roaming animals ( ferae naturae ) are (broadly) held in trust by the state; only if captured can ...
Tax shift or tax swap is a change in taxation that eliminates or reduces one or several taxes and establishes or increases others while keeping the overall revenue the same. [1] The term can refer to desired shifts, such as towards Pigovian taxes (typically sin taxes and ecotaxes ) as well as (perceived or real) undesired shifts, such as a ...
Because the producer is elastic, the producer is very sensitive to price. A small drop in price leads to a large drop in the quantity produced. The imposition of the tax causes the market price to increase from P without tax to P with tax and the quantity demanded to fall from Q without tax to Q with tax. Because the consumer is inelastic, the ...
The first commodity super cycle started in late 1890 and was accelerated on the back of widespread U.S. industrialization and World War 1. In 1917 commodity prices peaked and then entered a downtrend to the 1930s. As war erupted in Europe in the late 1930s and eventually including the U.S. the world saw a new cycle begin.
Excise taxes can be (and are) set by federal, state, and local jurisdictions. Many taxes are called an excise tax in the statute imposing that tax (an excise in the statutory law sense) even though they could more accurately be called some other kind of tax. Different taxes have accumulated over the years under the excise tax classification.
The right to buy and sell the commodity, and/or obtain (privately) and keep income from such trade; The (physical) transferability of the commodity itself, i.e. the ability to store, package, preserve and transport it from one owner to another. The imposition of exclusivity of access to the commodity.
An environmental tax, ecotax (short for ecological taxation), or green tax is a tax levied on activities which are considered to be harmful to the environment and is intended to promote environmentally friendly alternatives via economic incentives.