Public Finance & Elements Of Public Finance
Public Finance & Elements Of Public Finance
Wednesday, December 25, 2019
DEFINITION
Public finance can be defined as under.
Define a term law of Demand?
Define Price Elasticity of Demand.
Change In Demand And Change In Quantity Demand
This part includes the study of the methods of raising public revenues and the principles of taxation.
This part consists of the study of the principles and the effects of public expenditure.
This part includes the study of the methods of raising public debt.
“Public finance refers to the methods and principles which are concerned with the public revenue, expenditure and borrowing”.
“A field of inquiry that treats of the income and outgo (expenditure) of governments (federal provincial and local). In modern times, this includes four major divisions: public revenue, public expenditure, public debt and certain problems of fiscal System”.
Professor Herald Groves: an authority on public finance, defines it as.
“A field of inquiry that treats of the income and outgo (expenditure) of governments (federal provincial and local). In modern times, this includes four major divisions: public revenue, public expenditure, public debt and certain problems of fiscal System”.
Did you Check These Topics
Define a term law of Demand?
Define Price Elasticity of Demand.
Change In Demand And Change In Quantity Demand
ELEMENTS OF PUBLIC FINANCE
- PUBLIC REVENUE
This part includes the study of the methods of raising public revenues and the principles of taxation.
- PUBLIC EXPENDITURE
This part consists of the study of the principles and the effects of public expenditure.
- PUBLIC DEBT
This part includes the study of the methods of raising public debt.
- CETAIN PROBLEMS OF FISCAL SYSTEM
This part consists of the study of the certain problems of fiscal system.
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