IB Economics Glossary of terms
Cross Elasticity of Demand (XED) Income Elasticity of Demand (YED) Price Elasticity of Supply (PES) Government Intervention. English Home Language Definition Indirect tax. Specific tax. Ad valorem tax. Incidence of tax. Subsidy. Price ceiling (maximum price) Shortage. Parallel market. Price floor (minimum price) Surplus. 1.4 Market Failure ................
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