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Across 3. A tax that is only applied to certain goods. 4. A tax levied on a transaction. 10. Actual transfer of ownership from the privte sector to the government sector. 11. Third-party or spill over effects such as pollution is known as _____________. 12. One of the reasons for the increase in Government spending is _____ of income. 14. _____ and collection cost of a tax should be simple and cost effective. 17. In a modern, mixed economy, the government has a role to play in the efficient _________________ of resources. 18. A tax levied on a person. 19. The fiscal policy refers to the level and the ________ of government spending. 20. The main instrument of fiscal policy is ________ . 21. In a market economy price distortions should be kept to a minimum refers to the _____ criteria of a good tax.

Down 1. Public goods are characterised by non-____ . 2. Transnet and Eskom are examples of _____ . 3. In a modern economy the government has 3 broad functions: Allocative, distribution and _______ . 5. Fish, rivers and wildlife are examples of__________ property. 6. Contractionary policy is also referred to as a ____ policy. 7. The legal responsibility of tax referes to the _____ incidence of tax. 8. As income increases the % of income that you pay as tax also increases. 9. VAT is an example of a ___________. tax 13. If the Government borrows from the SARB it is called ______ financing . 15. If government spending is more than income then the budegt is in a _____ . 16. Main argument for government to get involved in the economy is market ____ .