At the top of the list is the reasons or justifications for collecting taxes from members of society. These principles provide insight into causes and consequences of government taxation. A number of important taxation principles arise in the study of public finance. The study of public finance identifies several key principles of taxation - tax effects (revenue and allocation), tax proportionality (proportional, progressive, and regressive), tax payments (benefit and ability-to-pay), tax equity (horizontal and vertical). TAXATION PRINCIPLES: Taxes are the mandatory payments made by members of society to governments to finance government operations. Oligopoly has a small number of relatively large firms. Both perfect competition and monopolistic competition have a large number of relatively small firms selling output.
The primary difference between each is the number of firms on the supply side of a market. The four basic market structure models are: perfect competition, monopoly, monopolistic competition, and oligopoly. MARKET STRUCTURE: The manner in which a market is organized, based largely on the number of firms in the industry. AmosWEB means Economics with a Touch of Whimsy!
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