PED and the burden of tax (HL only)
When an indirect tax is placed on a good or service there is an impact on consumers, producers as well as the government. The impact on each stakeholder depends on the PED for a product. Start this lesson with a TOK exercise. Firstly, ask your classes to write down the goods and services, in their country, which are currently subject to a specific consumption tax. Examples might include petrol, alcohol and tobacco...