Progressive Tax: Definition, Pros, Cons & Examples
A Progressive tax is where taxes increase in line with incomes.
The brand of economics that looks at the behaviour of individuals and businesses. In other words, it examines how consumers and businesses react to changes in variables. For example, how do consumers react to price changes and how does quality affect this decision making.
A Progressive tax is where taxes increase in line with incomes.
An economic good is a product or service that is provided to meet the needs and wants of consumers.
Mergers and acquisitions refer to the joining of two companies to form one entity.
Entrepreneurship is the act by an individual to start and develop their own business.
Corporate Social Responsibility (CSR) is a type of corporate strategy that looks at how the business can better society as a whole.
A competitive advantage is where one business has an edge over anothers. In other words, it is what makes the business stand out from other competitors in the market.
A stakeholder is someone that has an interest in a business because its decisions affect them. These can either be external or internal stakeholders.
Laissez faire economics is characterised by the absence of government involvement in the economic interactions between parties.
Outsourcing is where a company hires an external firm to conduct certain aspects of its business. In other words, one business hires another to operate a certain part of its operations.
Mass production is the continuous production of standardized products, usually along an assembly line.