Glossary Category: Micro Intervention - Page 4 - 3auk

marginal rate of tax

The marginal rate of tax is the proportion of additional income paid in tax, expressed as a percentage.

A proportional tax system, also known as a flat tax, requires all individuals to pay the same fixed

A regressive tax system is one in which the average tax rate falls as an individual’s income rises,

A progressive tax system is one in which the average tax rate rises with income, so higher-income individuals

Indirect taxes are levies imposed on the production, purchase, or consumption of goods and services, rather than directly

Direct taxes are levies imposed directly on individuals and organizations according to their income, wealth, or property. Examples

A buffer stock scheme is a government or international intervention strategy designed to stabilize prices of volatile commodities,

Maximum prices, also known as price ceilings, refer to government-imposed legal limits on the highest price that can

Income represents the flow of earnings received by an individual over a defined period, such as a year,

Inheritance taxes, also referred to as estate taxes in some jurisdictions, are levies imposed by the government on