distinguish public finance from private finance.
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Private finance (individual)......
An individual adjusts his or her expenditure according to his or her income.
A private individual tries to have a surplus of income over expenditure i.e. surplus budget.
An individual can borrow money from other individual only and externally.
Finances of individuals are limited
Private individuals cannot use force to get their income; they cannot compel others to get income.
Not a single individual can print notes.
Public finance ( government)......
The public authority adjusts its income to its expenditure.
A public authority will spend all that it gets.
A public authority especially a state can raised loans from both internally.
Finances of government are flexible.
The government can use coercive method to realize revenues.
please mark it as a brainliest answer....
An individual adjusts his or her expenditure according to his or her income.
A private individual tries to have a surplus of income over expenditure i.e. surplus budget.
An individual can borrow money from other individual only and externally.
Finances of individuals are limited
Private individuals cannot use force to get their income; they cannot compel others to get income.
Not a single individual can print notes.
Public finance ( government)......
The public authority adjusts its income to its expenditure.
A public authority will spend all that it gets.
A public authority especially a state can raised loans from both internally.
Finances of government are flexible.
The government can use coercive method to realize revenues.
please mark it as a brainliest answer....
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