Which term is used for fine that is payable for failing to clear goods from a storehouse with in a specific period of time ?
Correct answer: A. Demurrage
- A. Demurrage
- B. Penalty
- C. Charges
- D. Fine
Explanation
Demurrage is a charge imposed when imported or stored goods remain uncleared beyond the permitted period. It is more specific than the general terms penalty, charge, or fine.
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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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