PUBLIC BUDGET VERSUS PUBLIC NEED

Assess discrepancies between public budgets and public needs. Explain the relationship between the public budget and the demand for public goods.

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Public needs can be said to be the expenditure or the expenses which any government tends to incur so as to protect the citizens as well as improving these citizens economic welfare. Public budgets are thus the government’s expenditure and revenue estimates within a given financial year. The executive is controlled by the legislature through the budgets. They thus reflect and portray the economic as well as the fiscal policies of a state (Nice, 2002)…

(500 words)