In business, the finance function involves the acquiring and utilization of funds necessary for efficient operations. This function includes allocation , redistribution and stabilization activities. Nature of public finance Public finance is the study of how the government collects and spends revenue and real resources.
Public finance studies how the governments at all … Its the field of economics concerned with how the government raises money, how that money is spent, and the effects of these activities on the economy and on the society. Definition of Finance Functions The Finance Function is a part of financial management. Financial Management is the activity concerned with the control and planning of financial resources. Public finances are necessary, subjectively and objectively, as it contributes to accomplishing the tasks and functions of the state, which could not be realized without financial leverage.
have been supplemented with the economic function (sometimes called the fiscal function or the public finance function ).
The state uses Functions of Public Finance. INTRODUCTION TO PUBLIC FINANCE.
Private goods have a kind of exclusivity to themselves. functions of the state (legislative, social, security, etc.) There are three main functions of public finance as follows – The Allocation Function. Only those who pay for these goods can get the benefit of such goods, for example – a car. Finance is the lifeblood of business without it things wouldn’t run smoothly. Hey, FUNCTIONS OF PUBLIC FINANCE There are three main functions of public finance as follows – THE ALLOCATION FUNCTION The allocation function deals with the allocation of such public goods. There are two types of goods in an economy – private goods and public goods.