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WAEC Economics 2005 Question 38

Question 38

Public Finance

Government revenue from the groundnut industry is from

  1. A.licenses
  2. B.rents
  3. C.royalties
  4. D.taxes.
Show the answer and explanation

Answer: D (taxes.)

Explanation

Government earns from groundnut through taxes such as export duties and produce taxes; royalties come from minerals.