Return to a Scale | BECC 101 | Eco H |

Return to a Scale | BECC 101 | Eco H |


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DEMO
ENGLISH MEDIUM
MICROECONOMICS
   • MICROECONOMICS  
MACROECONOMICS
   • MACROECONOMICS  
INTERNATIONAL ECONOMICS
   • INTERNATIONAL ECONOMICS  
PUBLIC FINANCE
   • PUBLIC FINANCE  
STATISTICS
   • statistics  
Environmental Economics
   • environmental economics  
ECONOMIC GROWTH AND DEVELOPMENT
   • ECONOMIC GROWTH AND DEVELOPMENT  


HINDI MEDIUM
1 व्यष्टि अर्थशास्त्र
   • UGC NET ECONOMICS ( HINDI MEDIUM )  
2 समष्टि अर्थशास्त्र
   • 2 समष्टि अर्थशास्त्र  
3 अंतरराष्ट्रीय व्यापार
   • 3 अंतरराष्ट्रीय व्यापार  
4 लोक वित्त
   • 4 लोक वित्त  
5 मुद्रा एवं बैंकिंग
   • 5 मुद्रा एवं बैंकिंग  
7 भारतीय अर्थव्यवस्था
   • 7 भारतीय अर्थव्यवस्था  
पर्यावरणीय अर्थशास्त्र
   • 6 पर्यावरणीय अर्थशास्त्र  
8 जनांकिकी
   • 8 जनांकिकी  
9 सांख्यिकी
   • 9 सांख्यिकी  










Difference between public finance and private finance
Basis Public finance Private finance
Definition Public Finance is a study of government revenue and expenditure activities. Private finance is the study of the revenue and expenditure of individuals and private entities.


Objective The objective of public finance is to benefit the public. The objective of private finance is to make a profit.


Budget The government chose a deficit budget. Private individuals prefer a surplus budget.
Motive of Expenditure Government makes a transaction for
public benefit private individuals make business transactions for profit.
Long term consideration The government invests in projects that are beneficial for the public. Private investors put their money where the returns are quick and immediate.


Determination of expenditure. The government first decides the amount of expenditure and then finds resources of income. A private individual considers income first and then decides how much to spend.




Role of the public sector (role of the Government)
1. Securing conditions for functioning market mechanism government (Regulation and measures are needed)
2. Providing legal framework (the contractual agreement and exchange)
3. Provision of public goods and merit goods when the market field provides these goods.
4. Correcting the problem arising from externalities
5. Correcting in equal distribution of income and wealth (Transfer of Property rights)
6. Securing social objectives (high employment level, price level stability, Desired rate of growth, poverty eradication, and economic development)
7. Controlling monopoly