The cigarette industry

The barber shops

The gasoline stations

Wheat farmers

Adam Smith

J. B. Say

Marshall

Ricardo

Capitalist economy

Socialist economy

Traditional economy

Mixed economy

There is no direct relationship between the tax payer and the government

Direct relationship between tax payer and the government

Tax base is income

The incidence and impact are on the same person on whom tax is imposed

Product differentiation

Multiplicity of prices for identical products at any one time

Many sellers and a few buyers

Only one price for identical goods at any one time