Question : The main effect of direct taxes is on:
Option 1: food prices
Option 2: consumer goods
Option 3: capital goods
Option 4: income
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Correct Answer: income
Solution : The correct option is income .
Direct taxes are levied against particular individuals or entities and cannot be passed on to another party. These taxes are computed depending on the taxpayer's income, profits, or assets. Therefore, the primary impact of direct taxes is on the income and wealth of people or businesses.
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