Environmental Protection and Infrastructure Development

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What is one of the ways of protecting the environment?

Creation and maintenance of road networks

Establishing business in residential areas

Legislation to prevent further degradation (correct)

Provision of regulations for business activity

Why is it important to protect the environment?

To ensure that resources are not depleted

To protect against global warming and climate change

To reduce the level of pollution by firms

All of the above (correct)

What is one of the ways businesses can protect the environment?

Establishing business in residential areas

Reducing pollution in rivers, seas and the atmosphere (correct)

Using non-renewable sources of energy

Using hazardous materials in the production process

What is the purpose of government regulations for business activities?

To provide guidelines for the setting up and operations of a business Signup and view all the answers

What is one of the benefits of using renewable sources of energy?

Reducing the level of pollution in the atmosphere Signup and view all the answers

What is one of the ways government regulates business activities?

Providing guidelines for business operations Signup and view all the answers

What is the primary purpose of price controls?

To prevent suppliers from increasing prices Signup and view all the answers

What is the main objective of zoning laws?

To protect the environment by identifying certain wildlife areas Signup and view all the answers

What is the purpose of taxing firms that pollute the environment?

To force firms to reduce pollution Signup and view all the answers

What is waste disposal?

The disposal of hazardous substances Signup and view all the answers

What are the characteristics of a good tax system?

Fair, economical, convenient Signup and view all the answers

What is the primary use of tax revenue?

To finance government expenses such as healthcare and education Signup and view all the answers

What is the main purpose of consumer protection laws?

To protect consumers from business malpractices Signup and view all the answers

Which government agency is responsible for setting standards for goods and services?

The Bureau of Standards Signup and view all the answers

What is the minimum amount a buyer must pay before the seller cannot repossess the goods in a hire purchase agreement?

Three quarters of the hire purchase price Signup and view all the answers

What is the purpose of the Fair Trading Commission?

To investigate cases of tied selling and misleading advertising Signup and view all the answers

What is the purpose of the Weights and Measures Act?

To ensure accurate measurements and weights Signup and view all the answers

What type of taxes is a business responsible for paying?

Statutory deductions such as National Insurance, income tax, and corporation tax Signup and view all the answers

What type of tax is levied on goods entering a country?

Customs Duties Signup and view all the answers

Which type of tax system levies a higher percentage of tax on high income earners?

Progressive Taxation Signup and view all the answers

What is the purpose of stamp duty?

To tax legal documents Signup and view all the answers

Which type of tax system levies the same percentage of tax on both high and low income earners?

Proportional Taxation Signup and view all the answers

Who pays excise duties?

The manufacturer of the product Signup and view all the answers

In a regressive tax system, what percentage of their income do higher income earners pay in taxes?

A lower percentage Signup and view all the answers

What is the primary objective of government assistance to businesses?

To reduce unemployment and increase GDP Signup and view all the answers

Which of the following is a type of government assistance to businesses?

Subsidies on production costs Signup and view all the answers

What is the significance of a well-educated population in a nation's economic development?

It increases productivity and literacy levels Signup and view all the answers

What is the primary role of government in promoting economic development through education?

To develop an effective national education plan Signup and view all the answers

Why is the health of a population important for economic development?

It increases the productivity of the workforce Signup and view all the answers

What is the purpose of custom duties charged on imported goods?

To protect local producers Signup and view all the answers