PUBLIC FINANCE EXPLAINED – Is the study of how the government or public sector pays for or finance expenditures through taxes and borrowing .Public finance adapts and applies the fundamental microeconomic theory of markets to the public sectors and government sectors.In particular,this area of study analyses the efficiency of taxes and the market failure of public goods.Public finance is also …
Read More »THE DETERMINANT OF THE SIZE OF NATIONAL INCOME
THE DETERMINANT OF THE SIZE OF NATIONAL INCOME Availability of resources and their utilization These resources include natural resources, man-made and human resources; the more the resources utilized the more the income Political and social stability The availability of entrepreneur force in the economy The size of capital accumulated by a country The more the capital good the more the …
Read More »WHY TAXATION OR WHY DO THE GOVERNMENT TAX/PURPOSE OF TAXATION/REASON OF TAXATION
WHY TAXATION OR WHY DO THE GOVERNMENT TAX/PURPOSE OF TAXATION/REASON OF TAXATION To cover the cost of general administration Government charge taxation purposely to cover such as defense and social services provided by the state i.e. Army Police Hospital Control harmful goods like alcohol etc To check the consumption of goods which can be harmful to human being. To control …
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