lump sum

Definitions

Accounting

  • noun money paid in one single amount, not in several small sums

Construction

  • An item or category priced as a whole rather than broken down into its elements.

Economics

  • Describes a tax or subsidy that does not distort behavior. By using a tax (or subsidy) in an amount (the lump sum) independent of any aspect of the payer's or recipient's behavior, it does not alter behavior. nondistorting lump sum taxes and subsidies do not exist, but they are a convenient fiction for theoretical analysis, especially of gains from trade.

Law

  • noun an amount of money that is paid in one single payment, not in several small amounts
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