I. 🍃Introduction
- Definition of tax and subsidy
- Importance of understanding the differences between tax and subsidy

II. Effects on Costs/Prices
- Tax increases costs/prices
- Subsidy reduces costs/prices

III. Effects on Consumption/Production
- Tax reduces consumption/production
- Subsidy increases consumption/production

IV. Costs
- Tax is a cost for people/firms
- Subsidy is a cost to the government

V. Types of Goods
- Tax is placed on demerit goods
- Subsidy is given to merit goods

VI. 👉Conclusion
- Recap of the differences between tax and subsidy
- Importance of understanding the effects of tax and subsidy on the economy.