Sources of Government Revenue - SS2 Economics Past Questions and Answers - page 1
What is the primary source of revenue for most governments?
Taxes
Fees and Fines
Borrowing
Grants
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What is an example of a fee the government may charge?
Income tax
Sales tax
Property tax
Driver's license fee
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What constitutes borrowing as a source of government revenue?
Selling goods and services
Receiving grants
Issuing bonds
Collecting fines
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What is the purpose of grants as a source of government revenue?
To fund specific projects or initiatives
To collect money from individuals and businesses
To sell goods and services
To provide loans to investors
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What is an example of a good or service the government may sell?
Lottery tickets
Electricity
Income tax
Corporate tax
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What are the two types of taxes that the government may collect from individuals and businesses?
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Why is it important for governments to manage their revenue sources carefully?
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