Transcription of 1. Public Finance – Basic Concepts, Ties and Aspects
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1. Public Finance – Basic Concepts, Ties and Aspects
1. Public Finance Basic Concepts, Ties and Aspects Aim of this chapter to introduce to the issue of Public Finance ; to present Basic concepts of this topic and learn about their contents; to understand the linkages of Public Finance on economic theory. Key words Public Finance , Public sector, Public revenues, Public expenditures, functions of Public Finance , collectivism, individualism, allocation function, redistribution function, stabilization function, market failure, Lorenz curve, Gini coefficient, non-optional, non-refundable, non-equivalent. Required entry skills Basic orientation especially in macro and microeconomics, politics and related terms.
functions of the state (legislative, social, security, etc.) have been supplemented with the economic function (sometimes called the fiscal function or the public finance function ). This function includes allocation , redistribution and stabilization activities. The state uses
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