Question

Explain public finance as a subject of economics.

Answer 1

Answer:

Public finance, according to the traditional definition of the subject, is that branch of Economics which deals with, the income and expenditure of a government. ... Taxes are levied not for raising the revenue alone but are used as an important instrument of economic policy.

Answer 2

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Public finance is the study of the role of the government in the economy. It is the branch of economics that assesses the government revenue and government expenditure of the public authorities and the adjustment of one or the other to achieve desirable effects and avoid undesirable ones.