Economics Today: The Micro View (19th Edition) (Pearson Series in Economics)
Economics Today: The Micro View (19th Edition) (Pearson Series in Economics)
19th Edition
ISBN: 9780134479255
Author: Roger LeRoy Miller
Publisher: PEARSON
Question
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Chapter 6, Problem CFCT
To determine

The economic distinction between a ‘tax’ and ‘fee’

Concepts introduction:

Tax: A tax is a compulsory imposition on all the citizens of a country used for the general welfare of the people, without defining any specific purpose or services rendered.

Fee: A fee is the payment charged by the Government in lieu of services rendered by the Government and the payment received is used specifically for provision of and improving the services offered.

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