A public good is a widely available manufactured good or service that is non-rival and non-excludable. Examples include public services like police and firefighters, while professional services and drugs are not public goods. Advances in technology have created new types of public goods like software packages. In economic terms, a public good is a manufactured […]
A government budget outlines expected revenues and expenditures for the next fiscal year, with the process varying between governments. In the US, the federal budget is introduced by the House of Representatives and must be approved by both houses of Congress before going to the President. Regional and local governments also use budgeting. Emergencies may […]
