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GDP and the multipler - Coggle Diagram

- - - - Taxes are compulsory payments made by households and businesses, to the government. This is used to provide public goods and services.
        -Taxes on products refer to taxes required for every unit produced. E.g. excise duties.
        -Taxes on production do not depend on the number of units produced. E.g. property taxes
      - Subsidies refer to payments made by the government to businesses, to reduce the cost of production and ultimately the costs of goods and services.
        -Subsidies on products are provided per unit produced, making it more affordable. E.g. import and export subsidies.
        -Subsidies on production are provided to businesses belonging to specific industries. E.g. employment subsidies.