What meant by excise ?
Correct answer: C. Both of these
- A. A tax levied on certain articles produced and consumed in a country
- B. A licensing charge or a fee levied for certain privileges
- C. Both of these
- D. None of the above
Explanation
Excise traditionally means a tax on goods produced, sold, or consumed within a country, and the term can also cover charges connected with licensed privileges. Thus both descriptions are included in the broad definition used here.
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About Public Finance
Government revenue and expenditure are analysed through taxation, public borrowing, budgets, subsidies, transfers and public debt. The topic explains how fiscal policy affects resource allocation, income distribution, economic stability and growth, while distinguishing direct from indirect taxes, progressive from regressive taxation, and public goods from goods supplied by private markets.
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