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OpenStudy (anonymous):

what is taxing ,spending known as ?

OpenStudy (anonymous):

There are different definitions of "taxing". One could be physically or mentally demanding like the load of work that needed to be done was taxing. Or by taxing the good (product), the government can increase overall welfare as well as the states economic situtaion.

OpenStudy (anonymous):

i mean relating to government ?

OpenStudy (anonymous):

Well taxing is basically what the government puts on certain goods that can be sold to the public and the amount that you pay, there is a certain percentage that goes back to the government. This way benefits the wealth of the country, GDP, trades, sales etc. Each country/state has a different percentage. Ex) Canada's HST is 13%, certain states tax only 7% for food

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