Question

Parts 4,5 thank you

Answer 1

4. Bliss point

A bliss point is the amount of consumption that maximizes a customer's satisfaction for a particular good or service. For example, the bliss point of ice cream might be one small bowl and the bliss point for travel might be one trip a month. A customer who exceeds their bliss point may feel stressed, unsatisfied or regretful. Bliss point is purely related to a customer's needs and wants as opposed to budget. It has implications for product design, customer experience, diversification and pricing.

5. Lump sum tax

A fixed amount of taxes assessed equally on all taxpaying entities regardless of their income level. Lump-sum taxes, such as sales taxes, property taxes on cars and business equipment, and excise taxes, are thought to be regressive since lower income people must apply a higher percentage of their income to the tax. In theory, a lump sum income tax system could be more efficient because it wouldn't be predicated on the ability to pay or a person's willingness to work.
Lump sum taxes are the taxes that raise revenue for the government without distorting resource allocation patterns, hence they are preferred over other forms of taxes.