Question

Different between public finance and private finance

Answer 1

Before we study public finance, we may well compare it with individual or private finance.

Individuals and States are similar in that they both need resources. Both have to secure maximum results from their resources. Both
attempt to get the best out of all items of expenditure.A public authority can vary the amount of its income and expenditure within limits, of course, but more easily than an individual. An individual cannot easily double his income or halve his expenses even if he would be better off that way. But this is not so difficult in the case of Governments.

Answer 2

Answer:

question

Explanation:

private finance is concerned with the maximization of individual welfare while public finance is concerned with the maximization of a community's welfare from given resources.