Overview
Public finance is essential for managing a country's economic resources, ensuring that funds are allocated effectively to support public services and promote economic equity. It involves understanding taxation, public expenditure, and the mechanisms of redistribution, which are crucial for addressin...
Key Terms
Example: Public finance helps in budgeting for schools and hospitals.
Example: Income tax is a common form of taxation.
Example: Public expenditure includes spending on roads and education.
Example: Welfare programs are a form of redistribution.
Example: Economic equity aims to reduce the wealth gap.
Example: Food stamps are part of social welfare programs.
Related Topics
Key Concepts
TaxationPublic ExpenditureRedistributionSocial Welfare