Download App

Public Revenue — Economics STD 10 — Question

ICSE BoardEnglish MediumSTD 10EconomicsPublic Revenue2 Marks
Question
What is a tax? Give its two features.
✓

Answer

A tax is a compulsory payment imposed on the persons or companies by the government to meet the expenditure incurred on providing common benefits to the people.
Two features:
(i) Tax is a legal payment.
(ii) Tax money is used for social welfare.

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Explore more

More "[2 Mark Question Answer]" from Public Revenue→Public Revenue — all question types→Economics STD 10 question papers→ICSE Board STD 10 question papers→ICSE Board question paper generator→

Similar questions

State two factors causing demand pull inflation. ### Explain any two causes of demand pull inflation.
→
Identify the market forms of the following:
(i) The government of India is the sole buyer of fighter aircrafts.
(ii) Goods sold are homogeneous.
iii) Motor car market in India.
(iv) Market for toilet soaps in India.
→
Define the term 'capital'.
→
Give two characteristics of labour.
→
GST will lead to better tax compliance. Do you agree?
→
Distinguish between developmental and non-developmental expenditure.
→
Distinguish between tax and subsidy.
→
Give two examples of unproductive debt.
→
What is Wagner's Law?
→
A mild inflation is beneficial for economic growth. Justify the statement.
→