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Public Expenditure: Meaning & Nature,Canons/Principles of Public Expenditure   Meaning Public expenditure is spending made by the government of a country on collective needs and wants such as pension, provision, infrastructure, etc. Throughout the 19th Century, most governments followed laissez faire economic policies & their functions were only...

Principle of Maximum Social Advantage   The ‘Principle of Maximum Social Advantage’ was introduced by British economist Hugh Dalton. Public Finance” is concerned with income & expenditure of public authorities and with the adjustment of one with the other. Budgetary activities of the government results in transfer of purchasing power from...

Posted on Apr 26 2016 - 9:13am by Preeti
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Difference Between Public and Private Goods    Public goods have two distinct aspects: nonexcludability and nonrivalrous consumption.  Non rivalry means consuming good doesn’t reduce amount available to other people and Non excludable means once provided you can’t stop anyone consuming it.Private good, a product or service produced by a privately owned...

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