A tax charged by a government on a product, income, or activity. In economics, taxes fall on whomever pays the burden of the tax, whether this is the entity being taxed, like a business, or the end consumers of the business’s goods. Without tax, many parts of our society wouldn’t continue. Services like libraries, public health and hospitals, schools, swimming pools, national parks, our defence force, roads and social security allowances are all funded through taxes.
Tax
