What does one call property owned by the state in the name of the people ?
Correct answer: A. public
- A. public
- B. private
- C. common law
- D. communal
Explanation
Property owned by the state for the benefit or use of the people is public property. Private property belongs to individuals or private organizations, while communal property is owned collectively by a community rather than necessarily by the state.
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About Public Finance
Government revenue and expenditure are analysed through taxation, public borrowing, budgets, subsidies, transfers and public debt. The topic explains how fiscal policy affects resource allocation, income distribution, economic stability and growth, while distinguishing direct from indirect taxes, progressive from regressive taxation, and public goods from goods supplied by private markets.
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