This is an example of theory of socialism. The survival of relatively high tax rates and the emphasis on government programs to reallocate income are trademarks of socialism. Under socialism, governments commonly own some, if not most, basic businesses. Nonetheless, socialism, unlike communism, does permit at least some private ownership of businesses as well.
The oligopoly is known to have a one producer dominating the market. This results in a few suppliers/sellers in the market, and thus can cause a high increase in the price of the products that are being sold in its respective community.
Answer:
An excise subsidy has only a substitution effect since the subsidy artificially lowers the price of the subsidized good causing the consumer to increase consumption of the good, but no income effect.
Explanation:
The above is true due to the fact that the consumption of goods increases. This could have been reduced had it been that, there was never any excise subsidy on those goods.
If
teamwork and support are high on your priority list, a closed corporation may
be a poor choice for a business.
A closed corporation is generally a smaller corporation, it means that it is held by a
limited number of shareholders and is not publicly traded. There are
many different types of corporations.