Sources of Government Revenue - SS2 Economics Lesson Note

There are several sources of government revenue which include:

Taxes: Taxes are the primary source of revenue for most governments. Taxes can be collected from individuals, businesses, and other entities, and can take many forms, such as income tax, sales tax, property tax, and corporate tax.

Fees and Fines: The government may charge fees for services such as driver's licenses, passports, and permits. Fines may be imposed for violations of laws and regulations.

Borrowing: The government can borrow money by issuing bonds, which are essentially loans that investors can buy. The government pays interest on these loans.

Grants: The government may receive grants from other countries or international organizations to fund specific projects or initiatives.

Sales of Goods and Services: The government may sell goods and services, such as land, buildings, and utilities, to generate revenue.