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What is Canada’s Harmonized Sales Tax (HST)?

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The Harmonized Sales Tax (HST) is a value-added tax that is applied to most goods and services in Canada. The HST is a combination of the federal Goods and Services Tax (GST) and the provincial sales tax (PST). The HST is administered by the Canada Revenue Agency (CRA). The HST is calculated by adding the … Read more

Economic Efficiency: Definition and Examples.

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What is economic efficiency? Economic efficiency is the use of resources in the most efficient way possible to produce the greatest amount of output. What is an example of efficiency in business? There are many examples of efficiency in business, but one of the most important is the efficient allocation of resources. This means that … Read more