C. subprime lending
Its not something you want to do all of the time
The correct option is: For each unit of the good that is sold, buyers bear <u>one-half of the tax burden and sellers bear one-half of the tax burden.</u>
<u>Explanation</u>:
Incidence of tax is a term referred in economics which deals with division of taxes. Tax incidence refers to division of tax among the buyer and seller for a product. The tax incidence is related to the price elasticity of supply and demand.
When a product is sold, the buyer of the product is charged with one-half of the tax burden and the seller of the product bears the other-half of the tax burden.
The incidence of tax can be observed in two ways:
i) Formal incidence
ii) Effective incidence
Term total utility: The utility is the satisfaction that an individual derives from consuming a good or service. Similarly, total utility is the total satisfaction received from consuming a given total quantity of a good or service.
Marginal utility: Marginal utility is the added satisfaction a consumer gets from having one more unit of a good or service. The concept of marginal utility is used by economists to determine how much of an item consumers are willing to purchase. ... Marginal utility can be positive, zero, or negative.
<u>Answer</u>: Certain brand names, such as Kleenex or Xerox, have become generic name.
<u>Explanation:</u>
Generic name is the term used to refer a product with its brand name rather than the product itself. Kleenex and Xerox are the brand names of the products. Xerox is photocopying product and Kleenex is the brand name for wet wipes. People commonly use the word Kleenex instead of tissues or wet wipes.
This process can be called as genericization and companies loose their trademarks due to these usage of names. These generic names have wide spread popularity.
