S.6ENT1NOTES Instructions. -Readandwritethesenotesinyourbooks. NOTES. -Incasethereisanincreaseinskillsacquiredbyworkers -Incaseofhighminimumwagelegislationbythegovernment -Whenthereisanincreaseinexperienceofworkers -Incaseofhighcostofliving -Incaseofincreaseddemandforpayrisebytradeunions -Whentherehighrisksinvolvedinthejob -Whenthereisanincreaseinthenumberofhoursofferedforwork -Incasethereisadecrease/lowsupplyofparticularemployeesinanenterprise Explaintheconditionsnecessaryforemployeestoreceivehighpaymentsinan enterprise T h e f o l l o w i n g a r e c o n d i t i o n s n e c e s s a r y f o r e m p l o y e e s t o r e c e i v e h i g h e r w a g e s -Thereshouldanincreaseinthenumbersofhoursofferedforwork -Thereshouldadecrease/lowsupplyofparticularemployeesinanenterprise -Thereshouldbeanincreaseinprofitsearnedbytheenterprise -Thereshouldanincreaseinproductivityofworkers -Thereshouldanincreaseinskillsacquiredbyworkers -Thereshouldahighminimumwagelegislationbythegovernment -Thereshouldanincreaseinexperienceofworkers -Thereshouldahighcostofliving -Thereshouldincreaseddemandforpayrisebytradeunions -Thereshouldhighrisksinvolvedinthejob Underwhatsituationsmayemployeesdemandforbetterpayments? T h e f o l l o w i n g a r e c i r c u m s t a n c e s u n d e r w h i c h a n e n t r e p r e n e u r m a y p a y h i g h e r w a g e s f o r h i s / h e r e m p l o y e e s -Whenthereanincreaseinprofitsearnedbytheenterprise -Incasethereisanincreaseinproductivityofworkers -Incasethereisanincreaseinskillsacquiredbyworkers -Incaseofhighminimumwagelegislationbythegovernment -Whenthereisanincreaseinexperienceofworkers -Incaseofhighcostofliving -Incaseofincreaseddemandforpayrisebytradeunions -Whentherehighrisksinvolvedinthejob -Whenthereisanincreaseinthenumberofhoursofferedforwork -Incasethereisadecrease/lowsupplyofparticularemployeesinanenterprise B U S I N E S S T A X E S / T A X A T I O N T A X A T I O N Thisreferstoalegalcompulsorytransferofmoneyfromthepublictothegovernment asasourceofrevenuewithoutcorrespondinggoodsorservicesrendered. A t a xisacompulsorycontributionchargedonpeoplebythepublicauthoritywithno reciprocalbenefits(correspondinggoodsorservicesrendered).Or A t a xisacompulsorychargeorlevyimposedbythegovernmentoranyother competentauthorityonpersons(individuals,corporateorotherlegalentities)oron businessesinordertofinancegovernmentactivities. C O M M O N T E R S M U S E D I N T A X A T I O N a. T a x r a t e.Thisisthegeneralamountoftaxthatthegovernmentintendstocharge oneachunitorvalueofthetaxbase. b. T a x a v o i d a n c e.Thisreferstoasituationwherethetaxpayerdodgestopaytax imposedonhimorherbyexploitingloopholes(weaknesses)inthetaxsystem. O R Isasituationwhereataxpayerusesillegalmeansnottopaythetaximposedon himlikeapersonavoidingbuyingacommodityonwhichataxhasbeenimposed c. T a x e v a s i o n.Isthedeliberaterefusalofataxpayertopaythetaxassessedor imposedonhim.Likeapersonhidingatthetimeofcollectingthetax. C a u s …
