1.2 - How Markets Work Flashcards
1
Q
Ad valorem tax definition
A
An ad valorem tax is a tax that is based on the value of a product or service, rather than on the quantity or weight of the item
Economics A-Level - Introduction To Markets and Market Failure > 1.2 - How Markets Work > Flashcards
Ad valorem tax definition
An ad valorem tax is a tax that is based on the value of a product or service, rather than on the quantity or weight of the item