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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

How does a government agency raise revenue differently from a private company, and how does that affect the way government makes decisions compared to business decisions?

To determine

The way of raising money by a government agency is different from a private company is to be determined and the affect of this way on its decision making as compared to business decisions.

Explanation

The taxation system is the way by which government raises money. The taxation system is the system in which government imposes some amount as tax on the income of individuals. The government can raise tax rate as they feel comfortable to earn more tax revenue.

While, the private companies raises their money from selling of goods and services provided by them as the customer has to pay some amount to purchase the particular good or service...

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