Government Flashcards
(46 cards)
What is Government?
Is a system that helps run a country or community. it makes and enforces laws.
What are the main functions of Government?
To maintain order, to provide leadership for its people, raises revenue, maintaining foreign currency, defend the nation state, produce laws and sanctions and upholds the constitution.
What is Revenue?
The money that the government collects to pay for the services that it provides for the people.
What are the other Government Revenues?
Royalties, Foreign Investment Earnings, International Funding, Licenses and Passports, Court Fines, Tariffs, Custom fees and Remittances.
What is Royalties?
Payment made to the government for the use of its resources, property or intellectual property.(oil, land, copyright)
What is Foreign Investment Earnings?
Income received from investments made by foreign individuals, companies or governments in its assets or business.
What is International Funding?
Financial resources provided by foreign governments, international orgs/private entities.
What is a Court fine?
Money collected through fines imposed by courts.
What are Tariffs?
Taxes or duties imposed on goods and services that are imported or exported across borders.
What are Custom fees?
Charges on goods tat are imported into or exported out of a country.
What are Remittances?
Money sent by migrant workers abroad to their families or communities in their home land.
What is Tax?
A compulsory payment to be made by the citizen to the government for which he receives no direct benefit in return.
What is Direct Tax?
Tax you pay straight to the government based on your income or property.
Examples of Direct Tax:
Income tax, property tax, corporate tax, stamp duty, land tax and company tax.
What is Indirect Tax?
Tax that you pay when you buy things, but it’s included in the price, so you don’t pay it directly to the government.
Examples of Indirect Tax:
VAT, Purchase tax, Excise duty, Sales tax and customs duty.
What are government expenditures?
Development & planning, national security, housing, education, agriculture, and health and wellness.
What are the systems of government?
Unitary, Federal, Autocracy, Democracy, Theocracy, Monarchy, Dictatorship, Aristocracy, Proletariat, Republic, Oligarchy and Tyrany.
What is Unitary?
One government which rules all the people.
What is Federal?
A system of government where the powers are divided up between a national government and a local state.
What is Autocracy?
A system of government in which one person holds absolute power
What is Democracy?
Government by the majority of people.
What is Theocracy?
Government by region.
What is a Monarchy?
Government by a King or Queen.