Taxes
what is a compulsory contribution to state revenue, imposed by the government on workers’ incomes and/or business profits?
A tax
What is demand elasticity?
The extent to which a change in price causes a change in the quantity demanded
Price where quantity supplied equals quantity demanded?
Equilibrium price
A financial metric that breaks down a country's economic output per person
GDP per capita
What is a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales?
Economic Recession
What is an accumulation of valuable economic resources that can be measured in terms of either real goods or monetary value?
Wealth
What is the case of demand elasticity in which a change in the independent variable (usually price) results in a larger change in the dependent variable?
Inelastic demand
An assumption that all other variables are being held equal, when a single variable is being altered in an economic model
What is the output-expenditure model of GDP?
C+I+G+(X-M)
What is the measure of a country's average achievements in three basic aspects health, knowledge and standard of living?
Human Development Index
What is the type of income tax imposed by the Egyptian government?
Proportional (flat) tax
A demand where any price increase would cause the quantity demanded to fall to zero?
Perfectly elastic demand
What is a legal minimum or maximum on price?
Price control
What is the total demand for goods and services within a particular market?
Aggregate demand
what is the type of relationship between GDP and HDI?
correlation
What is the final burden of a tax?
Incidence of tax
What is the demand elasticity of Sobya in Ramadan?
Policy that protects consumers from high prices?
Price ceiling
What is the total value of all finished goods and services produced by a country’s citizens in a given financial year, irrespective of their location?
Gross National Product
what is the metric of measure gender disparities in health, empowerment and the labor market.
gender inequality index
What country has the highest income tax rate in the world?
Ivory Coast
A slight decrease in demand
What determines price in a free market?
The laws of supply and demand
Which country has the third largest GDP in the world?
Japan
What is the HDI score of Egypt?
0.7