Economics : Micro 4
Economics : Micro 4
4th Edition
ISBN: 9781305436855
Author: MCEACHERN
Publisher: CENGAGE L
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Chapter 3, Problem 1.3PA
To determine

The factors that influence household to decide whether to choose household production or buying it from market place.

Introduction:

Household Production- The goods produced by the members of the family for their own consumption using their own capital and labor (unpaid) is known as household production.

Opportunity Costs: It is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action.

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Discuss the preferred deterrent method employed by the Zambian government to combat tax evasion, monetary fines. As noted in the reading the potential penalty for corporate tax evasion is a fine of 52.5% of the amount evaded plus interest assessed at 5% annually along with a possibility of jail time. In general, monetary fines as a deterrent are preferred to blacklisting of company directors, revoking business operation licenses, or calling for prison sentences. Do you agree with this preference? Should companies that are guilty of tax evasion face something more severe than a monetary fine? Something less severe? Should the fine and interest amount be set at a different rate? If so at why? Provide support and rationale for your responses.
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