QUESTION FOUR The following are given as FUNCTIONS of taxation: 1. Budgetary and allocation 2. Income and wealth redistribution 3. Economic stabilization Discuss how the above three functions operate in an economy such as Zambia, giving solid examples as applied to the Zambian economic environment

QUESTION FOUR The following are given as FUNCTIONS of taxation: 1. Budgetary and allocation 2. Income and wealth redistribution 3. Economic stabilization Discuss how the above three functions operate in an economy such as Zambia, giving solid examples as applied to the Zambian economic environment

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter11: Fiscal Policy And The Federal Budget

Section: Chapter Questions

Problem 5QP

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Question

QUESTION FOUR

The following are given as FUNCTIONS of taxation:

1. Budgetary and allocation

2. Income and wealth redistribution

3. Economic stabilization

Discuss how the above three functions operate in an economy such as Zambia, giving solid examples as applied to the Zambian economic environment

Rules by which an authority (usually a government) imposes a financial obligation on individuals or organizations within its domain. Property or transactions can be taxed. While taxes are primarily intended to fund the operation of a government, many tax laws are created to encourage or discourage certain behaviors by citizens or companies.

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