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Define the concept of efficiency. Define the concept of equity. Using the tax system as an example to explain how a trade off exists between economic efficiency and equity. c. Explain using the graph above what would happen if the price was initially $20?Identify any surplus or shortage on the graph above. Q5.

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Furthermore, you overlooked the fact that the world needs the people who hate their work, and only fill a spot in the assembly line. They are essential for the exceptional to succeed. Please do not see only insult in my comment, but recognize it as a critique. I recommend that you continue your bold writing technique, but refine your content. If you would like someone to run your thoughts past you may contact me, and if you need references, just ask. Jonnot sure where you get your info from, but I have found no evidence that the world needs the people who only fill a spot on the assembly line. There is tons of evidence that the owner of the assembly line needs that spot filler, but not the world. Unless you think the assembly line owner is the world. In that case you are probably one who dreams to one day own the assembly and the factory. Owners are not exceptional. they are just people who have no problem getting ahead at other peoples expense.

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had publicly stated their affiliations to a political party Gentzkow et al. 2006, 188. By 1920, after World War One, 62 percent claimed to be independent of any political biases and moved away from partisan based coverage Gentzkow et al. 2006, 188. The Watergate scandal in 1972 created a skepticism of the political establishment in Washington D. C.

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