Category: Economics

Reasons For The Imposition of taxes by The government There are various reasons for the imposition of taxes by the government and we shall look at each reason as outlined below. 1. General Administrative...

Tax may be defined as a compulsory contribution contribution imposed by a government authority on goods, individuals, corporate bodies, etc, irrespective of the exact amount of services rendered to the tax payer in return,...

Every society irrespective of the type of economic system adopted; whether capitalism or socialism, is faced with the following basic fundamental economic problems: What To Produce Every society is faced with the first problem...

A budget may be defined as a financial statement of the total estimated revenue and the proposed expenditure of a government in a given period, usually a year.  Types of Budget  1. Balanced Budget ...

Sources of Government Borrowing  As government debts were divided into external and internal debts, sources of Government borrowing is also divided into external and internal. External sources are loans that come from foreign countries...

National or public debt refers to the sum total of debts owed by the government of a country both internally and externally. The debts may or may not be with interest. Loans or borrowings...

Public Finance deals with the financial activities of government concerning revenue, expenditure and debt operations and their effects on the economy. It tries to analyse the impacts of these financial activities of government on...