WAEC Economics 2014 Theory — Question 19

Question 19 of 22 from the West African Examinations Council (WAEC) Economics 2014 Theory paper, with the correct answer and a full explanation.

8(a). What is a specific tax? (2 marks)

Model answer

A specific tax is a tax imposed as a fixed amount per unit of a commodity, regardless of the commodity's price (e.g. a fixed amount per litre of fuel).

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