Finance is broadly defined into two parts:-
1. private finance:-
The private finance can be further divided into personal finance and business finance. the personal finance is concerned with the acquisition and the proper utilization of economic resource by the individuals and households for meeting their different needs The business finance is also a part of private finance. the business finance is concerned with the acquisition, management and utilization of fund by the private business organizations. the business organizations may also be in the form of public enterprises. but the public enterprises fall under the category of public finance.
2. Public Finance:-
Public finance is the study of the financial aspect of the government. here we study about the government expenditure, public revenue, public borrowing and financial administration. The economic activities of the pubic enterprises also fall under public finance. The objective of private of business finance is to earn maximum return or profit. On the contrary the objective of public finance is to maximize social welfare.
1. private finance:-
The private finance can be further divided into personal finance and business finance. the personal finance is concerned with the acquisition and the proper utilization of economic resource by the individuals and households for meeting their different needs The business finance is also a part of private finance. the business finance is concerned with the acquisition, management and utilization of fund by the private business organizations. the business organizations may also be in the form of public enterprises. but the public enterprises fall under the category of public finance.
2. Public Finance:-
Public finance is the study of the financial aspect of the government. here we study about the government expenditure, public revenue, public borrowing and financial administration. The economic activities of the pubic enterprises also fall under public finance. The objective of private of business finance is to earn maximum return or profit. On the contrary the objective of public finance is to maximize social welfare.
4 comments:
very good explanation
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