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Define Or Explain. Fine and Penalty - Economics

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Question

Define or Explain.

Fine and Penalty 

Short Note

Solution

Fines and penalties are imposed by the government on those who boycott law. Since they are indirect payments made for the maintenance of law and order in a country, they form a part of the non-tax revenue of the government.   

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Chapter 14: Public Economics - Exercise 2 [Page 129]

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Micheal Vaz Economics [English] 12 Standard HSC
Chapter 14 Public Economics
Exercise 2 | Q 1.1 | Page 129

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