Priceelasticity of demand for a taxed product plays key role in determining the impact of tax increase on government revenue. The more inelastic the demand for the product, the smaller the impact of any given lump-sum tax on the quantity of the product purchased, therefore the greater the government tax-take. (tax-take = tax per unit x quantity purchased)
How can government benefit from the elasticity concepts? Analyse the various economic policies which will benefit from the concept.
Policies are developed on the basis of specific needs identified by gathering information. Their formulation requires drafting, consulting and review.
government agencies
Describe the roles of government bodies that determine national fiscal policies
Government policies and programs, such as benefit programs and the progressive income tax, reduce income inequality.
How can government benefit from the elasticity concepts? Analyse the various economic policies which will benefit from the concept.
The government policies and procedures are often very rigid and there is no scope to change plans as the situation or the time demands.The government is accountable to the people for its action and elasticity will give the government better adjustments and governance.Controlled elasticity is better than free elasticity to the government.
formulation
Formulation
The necessity of political parties include; 1. They bring various representatives together so that a responsible government could be formed. 2. They support or restrain the government in the formulation of policies.
Policies are developed on the basis of specific needs identified by gathering information. Their formulation requires drafting, consulting and review.
Business and Financial Operations
formulation
formulation
formulation
Policies are developed on the basis of specific needs identified by gathering information. Their formulation requires drafting, consulting and review.
His responsibility is to direct the formulation and implementation of education policies. Secondly, he has to control the development and administration of the Government-aided primary schools, secondary schools, junior colleges and a centralised institute. :)