Government Spending and Taxation

Government spending refers to the money that a government uses to pay for public services and projects, such as education, healthcare, infrastructure, and defense. Taxation is how the government collects money from individuals and businesses to fund this spending. Taxes can include income tax, sales tax, and property tax. The balance between what the government spends and what it collects through taxes can affect the economy. If spending exceeds revenue, it can lead to deficits, while surplus occurs when revenue surpasses spending, influencing overall economic stability and growth.