BUSINESS ADMINISTRATION
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Fund the income of politicians
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Provide money for public goods and services
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Provide money for public performances
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Supplement big businesses
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Detailed explanation-1: -Public spending enables governments to produce goods and services or purchase goods and services that are needed to fulfill the government’s social and economic objectives.
Detailed explanation-2: -Of course the major expenditure of Government has to be incurred on National Defence, Infrastructure Developments etc. Taxes are used by the government for carrying out various welfare schemes including employment programmes.
Detailed explanation-3: -In economics, a public good refers to a commodity or service that is made available to all members of a society. Typically, these services are administered by governments and paid for collectively through taxation. Examples of public goods include law enforcement, national defense, and the rule of law.
Detailed explanation-4: -The government plays a significant role in providing goods such as national defence, infrastructure, education, security, and fire and environmental protection almost everywhere. These goods are often referred to as “public goods”.