Economics and Taxation Concepts

Front

What do gas taxes fund?

Back

Schools, roads, etc.

Front

What is revenue neutral taxation?

Back

Taxing one thing but returning the money another way.

Front

What did Milton Friedman say about school choice?

Back

Competition is important to challenge both public and private schools to be better.

Front

What are vouchers?

Back

Gift cards for school for private attendees.

Front

What is price?

Back

How much the consumer paid based on what the market agreed.

Front

What is cost?

Back

Unique to the producer and how much it burdened them to make a product.

Front

What is value?

Back

Unique to the consumer based on what they think a product is worth.

Front

What is social surplus?

Back

The bonus people get from exchanging.

Front

What is price discrimination?

Back

Charging different people different prices for the same thing.

Front

What is the Modigliani B. cycle?

Back

The graph that showed the debt of getting an education, the rise of making money and then the peak and decline after retirement.