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Meaning of public finance and what it comprises of

Answer Text:
Public Finance:
Meaning of public finance:
-Public finance refers to the study of how government collects and spends its revenue.
It comprises of:
i. Public revenue-refers to the revenues (income) and resources received by the government
from different sources.
ii. Public expenditure-refers to the resources spent by the government.
iii. Public debt-refers to the money and resources borrowed by the government.