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Mrac [35]
2 years ago
12

Which explains a difference between income and taxable income

Social Studies
1 answer:
Kipish [7]2 years ago
7 0

Answer:

an income is what a person earns, while a taxable income reflects deductions subtracted for relevant expenses.

Explanation:

im pretty sure,

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Market failure occurs whenever "free markets fail to distribute resources efficiently".

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<u>Explanation:</u>

The free market is a supply and demand-based economic system, with minor or zero government control. Market failure take place on the failure of efficient resource distribution, because if the demand of public will not be met on time than self life of product start decreasing and consumers may find alternatives to fulfill needs.

The causes for free market failure may be resulted from following factors like:

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