Subsidies
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Last updated 4:39 PM on 4/26/26
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4 Terms
1
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taxes are used for two main reasons...what are they?
Discourage harmful goods and raise tax revenue
2
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Why does the government spend some of its tax revenue on providing subsidies?
One way the government use this tax revenue is to provide subsidies, which encourage the consumption and production of goods that are good for society e.g. electric cars.
3
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What is the definition of a subsidy?
A subsidy is a grant from the government to a firm to increase the supply of a good.
4
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How do you work out the producer benefit of the subsidy?
