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.
• the economy in the area of macroeconomics indicators oscillates around the desired values and • the distribution of wealth and income may diverge from the consensus on fairness. It is then up to the state to perform its fiscal function (the public finance function) in
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