Carousel fraud is a type of criminal scheme commonly involving cross-border transactions within the European Union (EU), where fraudsters exploit the VAT system to steal large amounts of money.
A contingent loss is an economic loss that may occur in the future depending on the outcome of a specific event, typically related to a contingent liability.
Deadweight loss represents the cost to society created by market inefficiency, which can occur in different forms, such as monopoly pricing, externalities, taxes, subsidies, and scarcity pricing.
Economic loss is a situation in which a producer does not earn the level of profit that would justify remaining in business in the long run. It refers to both the reduction in revenue and the consequent decision-making impacts on the business's viability.
