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Difference between money and commodity?

Money:-A value that serves as a generally accepted medium of exchange. Money have indirect utility. Money cannot be pinpointed or specified.Commodity:-A reasonable homogeneous good or material that can bought and sold freely. The commodity have direct utility. The commodity can be pinpointed or specified.


What type of tax is a sale tax?

Citizens of a country are charged certain levies indirectly, commonly known as indirect taxes. These are the taxes payable on an activity or a commodity. Some common examples of indirect taxes are sales tax and excise tax.


What will happen to the supply curve when the government imposes heavy indirect taxes and puts price control on a commodity?

the supply curve will fall if heavy indirect taxes are imposed. A price will worsen the burden of suppliers which force them to cut the supply of goods.


What type of taxes is a sales tax?

Study island: It is a regressive tax. Citizens of a country are charged certain levies indirectly, commonly known as indirect taxes. These are the taxes payable on an activity or a commodity. Some common examples of indirect taxes are sales tax and excise tax.


What are the salient Features of indirect tax?

Shifting of tax burden commodity taxasation In indirect taxes, the ability of tax payer is indirectly determined. the tax payer dose not percive adirect pinch while paying indirect taxes. indirect taxes are easier to collect and greater amount of of generation of revenue is assured as tax evasion is comparitively less in the case of organised sector. tax imposed on goods directly affects the price of goods.


Which is the largest commodity exchange for commodity market?

Oil is that commodity.


Is milk a commodity or a product?

commodity


When the demand for a commodity is inelastic who bears the greater burden of the indirect tax?

When the demand for a commodity is inelastic, consumers bear a greater burden of the indirect tax. This is because inelastic demand means that consumers are less responsive to price changes; they will continue to buy nearly the same quantity even as prices rise due to the tax. Producers may be able to pass on most or all of the tax to consumers in the form of higher prices, resulting in a larger share of the tax burden falling on the consumers.


Is oil a commodity?

Yes oil is a commodity....


What is the opposite of selling a commodity?

Buying a commodity.


What are the types of commodity?

Importance of commodity exchange


Where is National Commodity Exchange of India?

National commodity exchange situated in Mumbai. Also Multi Commodity Exchange are in mumbai and National Multi Commodity Exchange situated in Ahmedabad. National commodity exchange situated in Mumbai. Also Multi Commodity Exchange are in mumbai and National Multi Commodity Exchange situated in Ahmedabad.