The Effect of Excise Taxation on Consumer Goods Prices in Shongom LGA
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Background of the Study
Excise taxation is a form of indirect tax imposed on specific goods, often affecting consumer goods prices. In Shongom LGA, excise taxes are applied to goods such as alcohol, tobacco, and other consumer products. While excise taxes are intended to generate government revenue, their impact on consumer goods prices and overall demand is often a subject of debate. This study aims to investigate the effect of excise taxation on the prices of consumer goods in Shongom LGA, focusing on how these taxes affect both consumers and businesses.
Statement of the Problem
Excise taxes on consumer goods in Shongom LGA have contributed to an increase in prices, which can negatively impact consumer spending and demand for affected goods. However, the extent to which these taxes influence price changes and the economic consequences of such price increases remain unclear. This study will examine how excise taxes on consumer goods are affecting prices in Shongom LGA and the broader implications for consumer behavior and market dynamics.
Aim and Objectives of the Study
Aim: To examine the effect of excise taxation on the prices of consumer goods in Shongom LGA.
Objectives:
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To analyze the relationship between excise tax rates and consumer goods prices in Shongom LGA.
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To assess the impact of excise taxation on consumer purchasing behavior in Shongom LGA.
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To propose recommendations for balancing excise taxation and consumer price stability in Shongom LGA.
Research Questions
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How does excise taxation affect the prices of consumer goods in Shongom LGA?
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What impact does excise taxation have on consumer purchasing behavior in Shongom LGA?
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What strategies can be implemented to mitigate the negative effects of excise taxation on consumer goods prices in Shongom LGA?
Research Hypothesis
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H₀: Excise taxation does not significantly affect the prices of consumer goods in Shongom LGA.
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H₀: Excise taxation does not significantly influence consumer purchasing behavior in Shongom LGA.
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H₀: Proposed strategies will not significantly reduce the negative impact of excise taxes on consumer goods prices in Shongom LGA.
Significance of the Study
This study will provide insights into the economic effects of excise taxation on consumer goods prices, helping policymakers understand the balance between generating revenue and minimizing negative impacts on consumers. The findings will contribute to more effective tax policies and consumer price management.
Scope and Limitation of the Study
The study will focus on the impact of excise taxation on consumer goods prices in Shongom LGA. Limitations include potential challenges in obtaining accurate pricing data from businesses and measuring the long-term effects of excise taxes on consumer behavior.
Definition of Terms
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Excise Taxation: A tax levied on specific goods, such as alcohol and tobacco, often affecting consumer prices.
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Consumer Goods: Products purchased by individuals for personal use.
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Consumer Purchasing Behavior: The decision-making process and actions of consumers regarding the purchase of goods and services.
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