Activity: Word Filling

Learning Target: to understand the meaning of fiscal through

the use words

F- unds
I- ndustry
S-upply
C-onsumers
A-dvertisment
L-ocal
Fiscal Policy
• Refers to the government’s use of government spending and
taxes to influence the overall demand for goods and services
in the economy.

• 3 kinds of government spending

1. Government expenditure
2. Investment type
3. Transfer payment
Taxing the nation’s households and business allow the
Government to acquire resources necessary for
attainment of public purpose
Direct Tax
• Income Tax
• Capital gain tax
• Property tax
• Estate tax
• Gift or Donor’s tax
Indirect Tax
• Customs duty
• Excise tax
• Value Added Tax
• Sales Tax
National Government Budget
• National Government Budget is a document detailing the
projected revenues and planned spending of the national
government for a financial year.

• Serves as a guide towards the proper use of government

resources.
4 Phases of how to budget ( National Budget)
1. Budget Preparation
• A financial Plan
• Strategic Plan
2. Budget Legislation
3. Budget Execution
• Collecting taxes
4. Budget Accountability
• Budget Report
Group Activity:
• After watching the video, answer the following:

1. What are the four phases of budgetary process? Explain

briefly
2. Who approved the National Budget