Economics

Are you struggling to understand the complexities of property taxes in Pakistan? You are not alone. Property taxes can be confusing and intimidating, but understanding them is essential for anyone who owns property in Pakistan. In this article, we will discuss the different types of property taxes in Pakistan, how they are calculated, and the steps you can take to ensure you are paying the correct amount....

As you all know that country is facing an economic crisis nowadays. Prices are increasing day by day. Hikes in prices are affecting all the fields of life. Overall the economy is in a depression state. All the economic activities are going through a dramatic downturn which results in a sharp fall in growth, employment, and production. Generally when prices increase it is called inflation. As it affects...

National Income According to Dr. Marshall “ Aggregate of goods and services produced by utilizing the resources and capital in a country in a fixed period of time which is generally a year, is called National Income. Various Approaches To National Income There are various approaches to National Income which are as follows Gross National Product (GNP) Net National Product (NNP) Gross...

Government A group of people, who has the authority to govern people or a state. As the government generates income from various sources, Likewise it has to incur expenditures on various counts. There are the following heads on which the government spent its income. Heads Of Government Expenditure Defence Defence is the basic necessity of every citizen. To this end, the government must...

Before discussing the difference between domestic and international trade, let us know about Trade. What is Trade? The exchange of goods and services from one people to another in which both of them are equally satisfied is called Trade. For example, two common men (Ahmad and Ali): Ahmad has food but needs wool, whereas Ali has wool but needs food. So, Ahmad and Ali will exchange goods with each...

As citizens, it is our responsibility to make sure that our country is doing well socially and economically. Taxes must be levied on every citizen so everyone pays tax so it will not affect our country’s growth anymore. The government must consider some laws in collecting taxes so that the amount may be collected properly and spent on the desired objectives. I.e On Infrastructure, health institutions,...

There are many other non-tax sources through which the government generates revenue.  Non-tax revenue is the income earned by the government other than tax sources. These include standard user charges and earnings from state assets. The following are the sources of government revenue from non-tax receipts Non-Tax Receipts Fee This is a user charge for availing of some concessions or...

The government generates its income from different sources. Tax is one of the sources of income of the government. Before stepping into the details of sources of government revenue, we should know What is Tax. Tax “A number of money people pay according to their income, the value of their property, etc to the government is called Tax” Taxes are the most important source of government income....

Revenue Before discussing Public or Private Finances, we should know What is Revenue? Generally, Revenue is the income of a person or organization that they earned. Public Finance or Private Finance deals with the ways of income and expenditure in their respective field.  The major aim is the theory of getting maximum welfare, profit, and benefit in spite of smaller income sources. They will...

After discussing the evolution of money, let's discuss how money works, or we can say what are the functions of money. At early ages, people used to exchange goods and services through barter systems, and then gradually money was invented.  Now money is serving the following functions to people to make their life easy. Functions Of Money  In the modern era, money plays an important role, the...