Which of the Following Is Not a Characteristic of a Tax

question 17

Multiple Choice

Which of the following is not a characteristic of a tax?

• A)It is a compulsory payment.
• B)Every tax involves a sacrifice by tax payer.
• C)There is a quid-pro-quo between the tax payer and the Government.
• D)Refusal to pay tax is a punishable offence.

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Definitions:

Profit-maximizing

The process of adjusting production and sales to achieve the highest possible profit levels, often by analyzing costs and revenues.

Marginal Cost

The extra expense associated with manufacturing an additional unit of a product or service.

Profit-maximizing Output

The point of production where a company attains its maximum profit.

Short-run Data

refers to information or statistical figures that capture economic activities or trends over a relatively brief period, emphasizing immediate effects rather than long-term patterns.