PUBLIC FINANCE

Business studies study module

Public finance refers to the activities carried out the government associated with raising of finances and the spending of the finances raised (it is the study of how government collects revenue and how it spends it)

The components of public finance are;

  1. Public revenue
  2. Public expenditure
  3. Public debt

 

Public revenue – refers to the revenues (income) and resources received the government from different sources.

Public expenditure refers to the resources spent the government.

Public debtrefers to the money and resources borrowed the government.



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