10th Social Science – Economics Book Back
& Questions Answers (solution)
4. Government and Taxes
I. Choose the correct answer:
1. The three levels of governments in India are
a) Union, state and local
b) Central, state and village
c) Union, municipality and panchayat
d) None of the above
Answer: a) Union, state and local
2. In India, taxes are including
a) Direct taxes
b) Indirect taxes.
c) Both (a) and (b)
d) None of these
Answer: c) Both (a) and (b)
3. Which is the role of government and development policies?.
a) Defence
b) Foreign policy
c) Regulate the economy
d) all of above
Answer: d) all of above
4. The most common and important tax levied on an individual in India is
a) Service tax b) Excise duty.
c) Income tax d) Central sales tax
Answer: c) Income tax
5. Under which tax one nation, one uniform tax is ensured
a) Value added tax (VAT)
b) Income tax
c) Goods and service tax
d) Sales tax
Answer: c) Goods and service tax
6. Income tax was introduced in India for the first time in the year __________ .
a) 1860 b) 1870 c) 1880 d) 1850
Answer: a) 1860
7. __________ tax is charged on the benefits derived from property ownership.
a) Income tax
b) Wealth tax
c) Corporate tax d) Excise duty
Answer: b) Wealth tax
8. What are identified as causes of black money?
a) Shortage of goods b) High tax rate
c) Smuggling
d) All of above
Answer: d) All of above
9. Tax evasion is the illegal evasion of taxes by
a) Individuals
b) Corporations
c) Trusts
d) All of the above
Answer: d) All of the above
10. Payments are
a) Fees and fines
b) Penalities and forfeitures
c) None of the above
d) both a and b
Answer: d) both a and b
II. Fill in the blanks
1. ____Tax______ is levied by government for the development of the state’s economy.
2. The origin of the word ‘tax’ is from the word ____Taxation______.
3. The burden of the ___Direct___ tax cannot be shifted to others.
4. __Corporate___ tax is levied on companies that exist as separate entities from their shareholders.
5. The Goods and Service Tax act came into effect on __1 july 2017__.
6. The unaccounted money that is concealed from the tax administrator is called
__Black Money___.
III. Choose the correct statement
1. Which of the following statement is correct about GST?
(i) GST is the ‘one point tax’.
(ii) This aims to replace all direct taxes levied on goods and services by the Central and
State governments.
(iii) It will be implemented from 1 July 2017 throughout the country.
(iv) It will unified the tax structure in India.
a) (i) and (ii) are correct
b) (ii), (iii) and (iv) are correct
c) (i), (iii) and (iv) are correct
d) All are correct
Answer: c) (i), (iii) and (iv) are correct
2. Choose the incorrect statements.
(i) Shortage of goods, whether natural or artificial, is the root cause of black money. (ii) Industrial sector has been the major contributor to black money.
(iii) Smuggling is one of the major sources of black money.
(iv) When the tax rate is low, more black money is generated.
a) (i) and (ii)
b) (iv)
c) (i)
d) (ii) and (iii)
Answer: b) (iv)
IV. Match the following
1. Income Tax – a) Value added tax
2. Excise duty – b) 1 July 2017
3. VAT – c) Smuggling
4. GST – d) Direct tax
5. Black money – e) Indirect tax
Answer: 1) d ; 2) e ; 3) a ; 4) b ; 5) c ;
V. Give Short Answers
1. Define tax.
2. Why we pay tax to the government?
3. Write the canons of tax system?
4. What are the types of tax? Give examples.
5. Write short note on Goods and Service Tax.
6. What is progressive tax?
7. What is meant by black money?
8. What is tax evasion?
9. Write some causes of tax evasion.
10. What is the difference between tax and payments?
VI. Brief Answer
1. Briefly explain the role of government in development policies.
2. Explain some direct and indirect taxes.
3. Write the structure of GST.
4. What is black money? Write the causes of black money.
5. Explain the role of taxation in economic development.
VII. Activity and Projects
1. Collect information about the local taxes (water, electricity and house tax etc).
2. Students purchase some goods on the shop. The teacher and students discuss those goods, maximum retail price, purchasing price or GST.
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