49
Lesson 49 of 84 · Economics
What Are Taxes and Why Do We Pay Them?
Taxes fund schools, roads, the military, and social programs. Types include income tax, sales tax, and property tax.
Key Facts
1
Money is a medium of exchange.
2
Needs are different from wants.
3
Supply and demand affect prices.
Check Your Understanding
Question 1
1 of 2What is trade?