Kinds of Intervention (Grade 10 NSC Matric Economics): Flashcards
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Practise the cards
10 cards from this deck
Direct taxes
Direct taxes
Payments from income/profits directly to SARS
South African VAT rate
South African VAT rate
14%
Unit price/excise taxes
Unit price/excise taxes
Fixed amounts per unit of product
Producer subsidies
Producer subsidies
Govt pays businesses to sell at lower prices
Price ceiling below equilibrium effect
Price ceiling below equilibrium effect
Shortages and black markets
Price floor above equilibrium effect
Price floor above equilibrium effect
Surpluses of products
Public goods examples
Public goods examples
Street lighting, roads, libraries, clinics
Merit goods
Merit goods
Benefit community but not profitable for private firms
Types of welfare grants in SA
Types of welfare grants in SA
Old-age pensions, disability grants, child support
Govt revenue from indirect taxes %
Govt revenue from indirect taxes %
Approximately 40%