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Public Revenue — Economics STD 10 — Question

ICSE BoardEnglish MediumSTD 10EconomicsPublic Revenue2 Marks
Question
What is the difference between price and tax?
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Answer

Difference between tax and price
→ Tax is a compulsory contribution to be paid by every citizen upon whom it is imposed. And it does not guarantee any benefit.
→ Price is to be paid by the persons who purchases goods and services provided by the government. It is the direct payment for using special services.

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