Public finance

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 restricted to defending aggression & maintaining law & order. The size of […]

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 some individuals to others. […]

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 some individuals to others. […]

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 business and purchased to increase […]

  Meaning & Scope of Public Finance   Meaning of Public Finance The word public refers to general people and the word finance means resources. So public finance means resources of the masses, how they are collected and utilized. Thus, Public Finance is the branch of economics that studies the taxing and spending activities of […]