GK
BUSINESS ECONOMICS
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Fund the income of politicians
|
|
|
Provide money for public goods and services
|
|
|
Provide money for public performances
|
|
|
Supplement big businesses
|
Detailed explanation-1: -To help redistribute income and promote social welfare.
Detailed explanation-2: -Taxes are levied by governments on their citizens to generate income for undertaking projects to boost the economy of the country and to raise the standard of living of its citizens.
Detailed explanation-3: -Government and Welfare Schemes. Government spending kind of is split between for all intents and purposes several schemes, generally such as healthcare, education, fairly social security, and others.
Detailed explanation-4: -These goods are necessary for daily life and national development. Supply of these goods cannot be ignored. The private sector does not hold any interest in these activities because these goods are not profitable and don’t have a profitable market. Thus the government takes the onus of supplying these goods.
Detailed explanation-5: -Payment of tax money to the government is mandatory. This money is used by the government to run the entire country. It is used to execute public services and pay salaries to the public workers.