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DIRECT TAXES
A direct tax is one where the impact and incidence of the Tax is on the same person e.g. Income Tax, death or estate duty, corporation taxes and capital gains taxes. It can also be defined as the tax paid by the person on whom it is legally imposed.
This means on whom the tax is imposed.
This means who has to bear the burden of the tax, i.e. who finally pays the tax.
In regards to air pollution, use a diagram to show and explain how the existence of pollution can make the market equilibrium inefficient.
THE IMPACT OF INFLATION Inflation has different effects on different economic activities on both micro and macro levels. Some of these problems are considered below: i.
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