Question on: WAEC Economics - 2018
income is redistributed when the rich are progressively taxed and?
A
more private schools are established
B
subsidy is provided on petroleum products
C
more public goods are provided
D
farmers are given guaranteed prices
Ask EduPadi AI for a detailed answer
Correct Option: C
Income Redistribution is an economic practice which is aimed at leveling the distribution of wealth or income in a society through a direct or indirect transfer of income from the rich to the poor. Economists or Governments adopt economic policies and strategies like progressive taxation to implement this phenomenon. the tax is used to build public infrastructure
Add your answer
Please share this, thanks!
No responses