Retrieving "Consumer" from the archives
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Gdp Deflator
Linked via "consumers"
| Feature | GDP Deflator | Consumer Price Index (CPI) |
| :--- | :--- | :--- |
| Scope | All domestically produced goods and services (including capital goods and government purchases). | A fixed basket of goods and services typically purchased by urban consumers. |
| Treatment of Imports | Excluded. | Included (as they affect household costs). |
| Weighting System | Implicitly chains weights, adjusting continually based on current producti… -
Opportunity Cost
Linked via "consumer"
Opportunity cost is a fundamental concept in economics representing the value of the next-best alternative that must be foregone when making a particular choice or allocation of scarce resources. It is the implicit cost associated with the path not taken, distinct from explicit monetary expenditures. In classical economic theory, particularly concerning factors of production like land, labor, and capital, t…
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Value Added Tax
Linked via "consumer"
Value Added Tax ($\text{VAT}$) is a consumption tax placed on a product whenever value is added at each stage of the supply chain, from production to the point of sale. It is an indirect tax, meaning it is collected by the seller but ultimately borne by the final consumer. Globally, $\text{VAT}$ systems exhibit significant structural variation, although the underlying economic principle remains consistent: taxing consumption rather than income or [capital accumulation](/e…