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1.2 How markets work

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Question 31

In 2021, the average household annual expenditure on domestic heating oil was £1,320, excluding VAT, an indirect tax charged at 5%.

The amount of VAT paid per year on heating oil by an average household in 2021 was:

£66.00

£264.00

£1,254.00

£1,386.00

1.2 How markets work Questions

  1. A Level
  2. /Economics
  3. /1.2 How markets work