National Debt: Definition, Sources, Pros & Cons
Posted inGovernment & Politics

National Debt: Definition, Sources, Pros & Cons

National debt or public debt is the total debt a country owes to its citizens, governments of other countries or international financial organizations like the World Bank and International Monetary Fund (IMF). The debt which a country owes its citizens is known as internal or domestic debt, while the debt owed to foreign governments or international financial organizations is known as external or foreign debt.
Public Finance: Definition, Features & Objectives
Posted inFinance

Public Finance: Definition, Features & Objectives

Public Finance is an aspect of economics that state how a government gets and spends the revenue it collects. In a more technical sense, it can be defined as that branch of economics that studies the relationship between the revenue and expenditure patterns of the government.