I.Com part 2 Principles of Economics Chapter 4 Short Question Preparation

12th Class Principles of Economics
Chapter 4

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12th Class Principles of Economics Chapter Wise Preparation

Chapter 1
Chapter 2
Chapter 3
Chapter 4
Chapter 5
Chapter 6
Chapter 7
Chapter 8
Chapter 9
Chapter 10
Chapter 11
Chapter 12
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Online Short Questions For Chapter 4 "ICom Part 2 Principles of Economics Chapter 4 Short Questions Preparation "

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Economics - ICom Part 2 Principles of Economics Chapter 4 Short Questions Preparation

Question # 1

Write four sources of tax revenue of the government.

Ans 1: 1- Custom duty 2- Excise duty 3- Income tax and corporate tax
Ans 2: 4- Sales tax.

Question # 2

What is meant by Balanced Budget.

Ans 1: When the revenues of the government are equal to its expeditures than it is called balanced budget

Question # 3

What is meant by direct tax.

Ans 1: Direct tax means the tax which is paid from the pocket of the person on when it is levied. It means the incidence and impact of the tax is one the same person income tax, peoperty tax and wealth tax are the examples of this kind of tax.

Question # 4

Define Public Finance in the words of Prof. Dalton.

Ans 1: Public Finance deals with government's revenue and expenditure and it studies how government maintains balance between its revenue and revenue and expenditure.

Question # 5

Write four points of similarities between public finance and private finance.

Ans 1: 1- Balane between income and expenditure.
Ans 2: 2- Maximum utlization of scarece means.
Ans 3: 3- Need of loans. 4- Increase in income trough investment.

Question # 6

Write four main sources of public revenue.

Ans 1: 1- Taxes 2- Fee 3- Price 4- Special assessment

Question # 7

Write four heads of public expenditure.

Ans 1: 1- Defiance 2- Police 3- Civil administration 4- Courts.

Question # 8

What is difference between impact and incidence of tax.

Ans 1: Impact of tax means imposting of tax on a person by the government and collecting from him, While incidence of tax menas the burdenof tax. Because it is not ncessary that if a tax is imposed on some person, the burden of tax will also fall on him.

Question # 9

Define canon of taxation " canon of convenience" according to Prof. Adam smith.

Ans 1: According to Prof. Adam Smith tax should be levied on the time when the taxpayer can easily pary it. Therefore it is necessary that tax should be collected in installment and at the time when tax payers get their incomesor salaries.

Question # 10

Define Excise Duty.

Ans 1: The tax which is impoed n domestically manufactured goods is called Excise duty.

Submit

Prepare Complete Set Wise Questions For Chapter 4 "ICom Part 2 Principles of Economics Chapter 4 Short Questions Preparation "

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Set 2

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Set 3

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ICom Part 2 Principles of Economics Chapter 4 Short Questions Preparation - Set 1

Question # 1

Write four sources of tax revenue of the government.

Ans 1: 1- Custom duty 2- Excise duty 3- Income tax and corporate tax
Ans 2: 4- Sales tax.

Question # 2

What is meant by Balanced Budget.

Ans 1: When the revenues of the government are equal to its expeditures than it is called balanced budget

Question # 3

What is meant by direct tax.

Ans 1: Direct tax means the tax which is paid from the pocket of the person on when it is levied. It means the incidence and impact of the tax is one the same person income tax, peoperty tax and wealth tax are the examples of this kind of tax.

Question # 4

Define Public Finance in the words of Prof. Dalton.

Ans 1: Public Finance deals with government's revenue and expenditure and it studies how government maintains balance between its revenue and revenue and expenditure.

Question # 5

Write four points of similarities between public finance and private finance.

Ans 1: 1- Balane between income and expenditure.
Ans 2: 2- Maximum utlization of scarece means.
Ans 3: 3- Need of loans. 4- Increase in income trough investment.

Question # 6

Write four main sources of public revenue.

Ans 1: 1- Taxes 2- Fee 3- Price 4- Special assessment

Question # 7

Write four heads of public expenditure.

Ans 1: 1- Defiance 2- Police 3- Civil administration 4- Courts.

Question # 8

What is difference between impact and incidence of tax.

Ans 1: Impact of tax means imposting of tax on a person by the government and collecting from him, While incidence of tax menas the burdenof tax. Because it is not ncessary that if a tax is imposed on some person, the burden of tax will also fall on him.

Question # 9

Define canon of taxation " canon of convenience" according to Prof. Adam smith.

Ans 1: According to Prof. Adam Smith tax should be levied on the time when the taxpayer can easily pary it. Therefore it is necessary that tax should be collected in installment and at the time when tax payers get their incomesor salaries.

Question # 10

Define Excise Duty.

Ans 1: The tax which is impoed n domestically manufactured goods is called Excise duty.

Submit

ICom Part 2 Principles of Economics Chapter 4 Short Questions Preparation - Set 2

Question # 1

What is meant by budget.

Ans 1: Account of income nad expenditure is called budget.

Question # 2

Define Excise Duty.

Ans 1: The tax which is impoed n domestically manufactured goods is called Excise duty.

Question # 3

Write four points of similarities between public finance and private finance.

Ans 1: 1- Balane between income and expenditure.
Ans 2: 2- Maximum utlization of scarece means.
Ans 3: 3- Need of loans. 4- Increase in income trough investment.

Question # 4

Write four main sources of public revenue.

Ans 1: 1- Taxes 2- Fee 3- Price 4- Special assessment

Question # 5

Define public fiance in the words of Bastable.

Ans 1: Public finance is that branch of economcs which studies the revenue and expenditures of government's institution, their interrelationship and financial administration.

Question # 6

What are kinds of public expenditures.

Ans 1: 1- Developmentof expnditures 2- Non development expnditues.

Question # 7

Write four sources of tax revenue of the government.

Ans 1: 1- Custom duty 2- Excise duty 3- Income tax and corporate tax
Ans 2: 4- Sales tax.

Question # 8

What is meant by Public Finance.

Ans 1: Public Finance is that branch of economics, which deals with the revenue and expenditures of the government . it studies the resources of government's revenue adn its expenditures.

Question # 9

Write the four basic canons of taxation stated by Prof.Adam Smith.

Ans 1: 1- Canon of equality 2- Canon of certainity
Ans 2: 3- Canon of convenience 4- Canon of economy

Question # 10

Define Public Finance in the word of Prof. Armitage Smith.

Ans 1: The study of nature of principles of government's expenditure and revenue is called Public Finance.

Submit

ICom Part 2 Principles of Economics Chapter 4 Short Questions Preparation - Set 3

Question # 1

What is meant by direct tax.

Ans 1: Direct tax means the tax which is paid from the pocket of the person on when it is levied. It means the incidence and impact of the tax is one the same person income tax, peoperty tax and wealth tax are the examples of this kind of tax.

Question # 2

Define Excise Duty.

Ans 1: The tax which is impoed n domestically manufactured goods is called Excise duty.

Question # 3

What is Revenue Budget.

Ans 1: The revenue budget is a budget in which revenue collected from different kinds of taxes is shown.

Question # 4

Different betwene Fee and Tax.

Ans 1: Fee is the reward of the government's services from which the people are benefited, while the tax payer can not demand for direct personal benefit from the goverenment in return for payment of tax.

Question # 5

What is difference between impact and incidence of tax.

Ans 1: Impact of tax means imposting of tax on a person by the government and collecting from him, While incidence of tax menas the burdenof tax. Because it is not ncessary that if a tax is imposed on some person, the burden of tax will also fall on him.

Question # 6

What is meant by budget.

Ans 1: Account of income nad expenditure is called budget.

Question # 7

Difference between public finance and private finance.

Ans 1: The study of government's revenue, expenditure and their principles is called public finance. Where as, the study of the nature of an individual's income, expenditure and their related principles is called private finance.

Question # 8

Define canon of taxation " canon of convenience" according to Prof. Adam smith.

Ans 1: According to Prof. Adam Smith tax should be levied on the time when the taxpayer can easily pary it. Therefore it is necessary that tax should be collected in installment and at the time when tax payers get their incomesor salaries.

Question # 9

Write four points of similarities between public finance and private finance.

Ans 1: 1- Balane between income and expenditure.
Ans 2: 2- Maximum utlization of scarece means.
Ans 3: 3- Need of loans. 4- Increase in income trough investment.

Question # 10

Define Capital budget.

Ans 1: The capital budget is a budget in which such expnditures ae explained which cause increase in capital goods.

Submit

12th Principles of Economics Chapter 4 Preparation

Short Questions
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I.Com part 2 Principles of Economics Chapter 4 Short Question Preparation

12th Class Principles of EconomicsChapter 4

12th Class Principles of Economics Chapter Wise Preparation

Online Short Questions For Chapter 4 "ICom Part 2 Principles of Economics Chapter 4 Short Questions Preparation "

Economics - ICom Part 2 Principles of Economics Chapter 4 Short Questions Preparation

Write four sources of tax revenue of the government.

What is meant by Balanced Budget.

What is meant by direct tax.

Define Public Finance in the words of Prof. Dalton.

Write four points of similarities between public finance and private finance.

Write four main sources of public revenue.

Write four heads of public expenditure.

What is difference between impact and incidence of tax.

Define canon of taxation " canon of convenience" according to Prof. Adam smith.

Define Excise Duty.

Prepare Complete Set Wise Questions For Chapter 4 "ICom Part 2 Principles of Economics Chapter 4 Short Questions Preparation "

Set 1

Set 2

Set 3

ICom Part 2 Principles of Economics Chapter 4 Short Questions Preparation - Set 1

Write four sources of tax revenue of the government.

What is meant by Balanced Budget.

What is meant by direct tax.

Define Public Finance in the words of Prof. Dalton.

Write four points of similarities between public finance and private finance.

Write four main sources of public revenue.

Write four heads of public expenditure.

What is difference between impact and incidence of tax.

Define canon of taxation " canon of convenience" according to Prof. Adam smith.

Define Excise Duty.

ICom Part 2 Principles of Economics Chapter 4 Short Questions Preparation - Set 2

What is meant by budget.

Define Excise Duty.

Write four points of similarities between public finance and private finance.

Write four main sources of public revenue.

Define public fiance in the words of Bastable.

What are kinds of public expenditures.

Write four sources of tax revenue of the government.

What is meant by Public Finance.

Write the four basic canons of taxation stated by Prof.Adam Smith.

Define Public Finance in the word of Prof. Armitage Smith.

ICom Part 2 Principles of Economics Chapter 4 Short Questions Preparation - Set 3

What is meant by direct tax.

Define Excise Duty.

What is Revenue Budget.

Different betwene Fee and Tax.

What is difference between impact and incidence of tax.

What is meant by budget.

Difference between public finance and private finance.

Define canon of taxation " canon of convenience" according to Prof. Adam smith.

Write four points of similarities between public finance and private finance.

Define Capital budget.

12th Principles of Economics Chapter 4 Preparation

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12th Class Principles of Economics
Chapter 4