Advertisements
Advertisements
Question
Explain the significance of taxes.
Answer in Brief
Advertisements
Solution
- Taxes are helpful in regulating the level of economic activity.
- They help in reducing inequalities of income and wealth.
- They provide resources for economic development.
shaalaa.com
Role of State in Economic Development
Is there an error in this question or solution?
APPEARS IN
RELATED QUESTIONS
______ is an example of commercial revenues.
Wealth tax is an example of:
'The role of the State is important in developing the economic infrastructure of a developing economy'. Give two reasons to support your answer.
Define a degressive tax.
Citing reason state the advantage of a direct tax over an indirect tax.
Classify the following type of tax into direct and indirect taxes:
Sales tax
Give two reasons why the government imposes tax?
Explain how indirect taxes can be inflationary.
Three demerits of an Indirect tax.
Explain the term Impact of a tax.
