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2 marksTaxation and Fiscal Policy

CSEC Principles of Business · May/June 2013 · Paper 2 · Question 6(a)(i)

A government senator noted that despite national financial difficulties, it was premature to decide on raising taxes or cutting subsidies.

Define the term 'taxes'.

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Other parts of this question

  1. 6(a)(ii)Define the term 'subsidies'.[2 marks]
  2. 6(a)(iii)State TWO reasons why governments impose taxes.[2 marks]
  3. 6(a)(iv)Identify TWO services which a government in the Caribbean would normally subsidize.[2 marks]
  4. 6(b)(i)Differentiate between 'progressive' taxes and 'regressive' taxes.[2 marks]
  5. 6(b)(ii)List TWO examples of direct taxes.[2 marks]
  6. 6(b)(iii)List TWO examples of indirect taxes.[2 marks]
  7. 6(c)Discuss TWO steps which your government could take to protect the interests of local poultry farmers.[6 marks]

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