Question

A compulsory payment by the citizens of the country to the government without any expectation of corresponding benefits for such payments. This defines ______

Options

• Tax

• Subsidy

• Discount

• Concession

Answer 1

A compulsory payment by the citizens of the country to the government without any expectation of corresponding benefits for such payments. This defines Tax.

Explanation:

Taxes are mandatory payments made by the people of a country to the government with no prospect of receiving anything in return. A tax is a one-sided payment made by a country's citizens to its government.