Sources of Government Revenue - SS2 Economics Past Questions and Answers - page 1
1
What is the primary source of revenue for most governments?
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A
Taxes
B
Fees and Fines
C
Borrowing
D
Grants
2
What is an example of a fee the government may charge?
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A
Income tax
B
Sales tax
C
Property tax
D
Driver's license fee
3
What constitutes borrowing as a source of government revenue?
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A
Selling goods and services
B
Receiving grants
C
Issuing bonds
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D
Collecting fines
4
What is the purpose of grants as a source of government revenue?
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A
To fund specific projects or initiatives
B
To collect money from individuals and businesses
C
To sell goods and services
D
To provide loans to investors
5
What is an example of a good or service the government may sell?
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A
Lottery tickets
B
Electricity
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C
Income tax
D
Corporate tax
6
What are the two types of taxes that the government may collect from individuals and businesses?
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7
Why is it important for governments to manage their revenue sources carefully?
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