O-LevelEconomicsGovernment and the macroeconomy2281/11 · May/June 2025 · Q181 Mark

What is a principle of taxation?

Aequality between social cost and social benefit

Bfairness between taxpayers

Cprofit maximisation by firms

Dtax revenue maximisation

✓ Correct answer

B: fairness between taxpayers

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Topic: Government and the macroeconomy, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source: O-Level Economics, May/June 2025 Paper 1 Variant 1, question 18.

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