What are public goods and private goods?
Asked by Topperlearning User | 19th Apr, 2016, 09:14: AM
Public goods: The goods which cannot be provided through market mechanism and must be provided by the government are called public goods. Example: roads, public library, parks
Private goods: The goods which can be provided through market mechanism and the transactions are taken place between the producers and individual consumers are known as private goods. Example: Food, clothing, furniture
Answered by | 19th Apr, 2016, 11:14: AM
- What are the types of budget?
- What are the objectives of government budget?
- Define revenue budget.
- Define capital budget.
- Define tax.
- Mention any two examples of each item. i. Non-tax revenue ii. Direct tax
- What is plan and non-plan expenditure?
- Subsidies are treated as revenue expenditure. Give reason.
- What is fiscal discipline?
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