Government revenue from the groundnut industry is from

Assessment: WAEC SSCE - Economics - 2005 (Objective) Subject: Economics

Question 1 Report

Government revenue from the groundnut industry is from
Answer Details
Government revenue from the groundnut industry comes from taxes. When individuals or businesses engage in the production, processing, or sale of groundnuts, the government collects taxes on their income or profits. These taxes may include income tax, corporate tax, sales tax, or value-added tax (VAT), among others. The government then uses the revenue generated from these taxes to fund public services and infrastructure, such as schools, hospitals, roads, and public utilities, among others. Therefore, taxes are a significant source of government revenue in the groundnut industry and other sectors of the economy.

Download The App On Google Playstore

Everything you need to excel in your exams

Green Bridge CBT Mobile App
Personalized AI Learning Chat Assistant
200,000+ Exam Questions Across IGCSE, JAMB, WAEC & NECO
Over 3,900 Lesson Notes
Offline Support - Learn Anytime, Anywhere
Green Bridge Timetable
Literature Summaries & Potential Questions
Track Your Performance & Progress
In-depth Explanations for Comprehensive Learning