Answer:
C. The ability-to-pay principle.
Explanation:
According to my research on different tax methods, I can say that based on the information provided within the question this tax follows the ability-to-pay principle. This principle states that taxes should be levied according to a taxpayer's ability to pay. Since the tax in this situation is being placed on liquor, which is not a necessity, then it can be said that the buyer has the ability to pay the tax.
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Answer:
An entrepreneur is a person who finds an economic opportunity in the market, and exploits it for his own benefit and the benefit of his employees and constomers by setting up a firm.
Explanation:
Three characteristic of an entrepreneur:
Opportunity seeking: entrepreneurs "scan" the market, seeking for market niches that have not been exploited.
Work-ethic: entrepreneurship is a difficult task, especially during the first years of the company. It demands very long work hours, and the entrepreneur must be willing to do that in order to be successful.
Risk-taking: entrepreneurs should evaluate risk when taking decisions, but they should not be the most risk-averse indidivuals. They have to take risks in certain situations because otherwise, they would not be able to become entrepreneurs at all.
ANSWER : TRUE
EXPLANATION :
GDP denotes the total (gross)value of goods & services produced by an economy, during a period of time (financial year) .
This total value of goods can be calculated by both Income & Spending approach , based on assumption that 'one person expenditure is other person income'. Because both reflect the total value of goods produced .
This is evident from two methods to calculate GDP :
1. Expenditure Method
NDP (net value) = Compensation of Employees + Opereating Surplus + Mixed Income ;
Where - 1st COE is income of labour , 2nd OS (Rent + Interest + Profit) income of other factors - land , 3rd MI income from self employed .
2. GDP = Private Final Consumption Expenditure + Govt. Final Consumption Expenditure + Gross Domestic Capital Formation + Net Exports ;
Where - 1st PFCE is expenditure by private households , 2nd GFCE expenditure by govt , 3rd GDCF investment expenditure by firms , 4th expenditure by Abroad .
