Across
- 2. Situations like monopolies or pollution where markets fail to allocate resources efficiently.
- 6. Public finance supports healthcare, education, housing, and social security programs that improve citizens' quality of life.
- 7. are mandatory contributions levied on individuals or corporations by a government entity whether local, regional, or national.
- 8. Balancing the constant tension between economic efficiency and social equity
- 10. financial support usually money or tax breaks given by a government to a person, company, or industry
- 11. This involves the institutional processes, laws, and systems used to manage the public finance cycle. It includes budget formulation, revenue collection, financial accounting, transparent reporting, and external auditing to ensure public funds are used correctly and efficiently
Down
- 1. is the study of how governments manage their income, spending, and debt to influence the economy and meet societal needs. It examines the financial activities of public authorities at local, state, and national levels.
- 3. Using tax and transfer programs (e.g., welfare, subsidies) to reduce poverty and wealth inequality.
- 4. When government expenditures exceed public revenues, a fiscal deficit occurs. The government manages this shortfall by borrowing money, usually by issuing government bonds or taking loans from international organizations.
- 5. Unintended costs or benefits imposed on third parties (e.g., pollution).
- 9. Commodities that are non-rivalrous and non-excludable, requiring government intervention to exist.