Lesson Notes By Weeks and Term - Senior Secondary 2

Sources of government revenue

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Term: 1st Term

Week: 12

Class: Senior Secondary School 2

Age: 16 years

Duration: 40 minutes of 2 periods each

Date:       

Subject:      Economics

Topic:-       Sources of government revenue

SPECIFIC OBJECTIVES: At the end of the lesson, pupils should be able to

  1. List and explain the sources of government revenue
  2. Define taxation
  3. List and explain the types of taxes

INSTRUCTIONAL TECHNIQUES: Identification, explanation, questions and answers, demonstration, videos from source

INSTRUCTIONAL MATERIALS: Videos, loud speaker, textbook, pictures

INSTRUCTIONAL PROCEDURES

PERIOD 1-2

PRESENTATION

TEACHER’S ACTIVITY

STUDENT’S ACTIVITY

STEP 1

INTRODUCTION

The teacher reviews the previous lesson on public finance and fiscal policy

Students pay attention

STEP 2

EXPLANATION

She lists and explains the sources of government revenue

Students pay attention and participates

STEP 3

DEMONSTRATION

She explains the meaning of taxation. She further lists and explains the types of taxes

Students pay attention and participate

STEP 4

NOTE TAKING

The teacher writes a summarized note on the board

The students copy the note in their books

 

NOTE

SOURCES OF GOVERNMENT REVENUE

1) Taxes: Taxes are compulsory levy impose on commodity, individual and firms by government.

2) Fees: These are payment a person makes to make use of government property and services e.g court fees.

3) Fine: Fines and penalties are not imposed to collect revenue but to punish the people for the infringement of state laws.

 4) Grant and Gift: Gifts and grants are voluntary contribution made by individual, society and developed country.

5) Loan: Government can borrow money from international financial institution, individual and corporate organization to finance its project.

6) License: Government receives revenue from issuance of licenses to people to operate a particular business e.g driver license.

7) Stamp Duties: Government receives revenue from endorsement of document to make them legal e.g building plan.

TAXATION

Taxation is the sum of money levied and could be in the form of direct taxes or indirect taxes.

DIRECT TAX A direct tax is a type of tax that is paid by the person to whom it is imposed by government agency be it on income of individual or profit, rent, interest of organizations.

INDIRECT TAX Indirect taxes are taxes imposed by government on goods and services that are usually borne by the producers in the initial stage before shifting them to final consumers.

INCIDENCE OF TAXATION

1) Formal Incidence

2) Effective Incidence of taxation

EFFECTS OF PUBLIC EXPENDITURE

1) Effect on production

2) On credit and Banking facilities

3) Effect on Employment

4) Wealth Redistribution

5) Price Level.

EVALUATION:    1. List and explain four sources of government revenue

  1. Define taxation
  2. List and explain the types of taxes

CLASSWORK: As in evaluation

CONCLUSION: The teacher commends the students positively