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Explain five guidelines that may be used by the government of a country to promote efficient use of her resources.

Explain five guidelines that may be used by the government of a
country to promote efficient use of her resources.

Answers

gregory
? Maximum social benefit/optimal benefit. Government spending should benefit
as many people as possible.
? Flexibility. Should be elastic enough to accommodate changing circumstances.
? Economy. Should be capable of being changed to accommodate prevailing
economic circumstances.
? Equity. Should aim at distributing incomes fairly.
? Sanction. Government spending must be approved by the relevant authority to
enhance accountability.
? Accounting. Proper accounting records should be kept to facilitate good
financial management.
? Productivity. A larger proportion of the national income should be spent on
development projects.
? Surplus. Expenditure should be less than the total revenue collected.
? Elasticity - should be capable to being expanded/contracted depending on the
size of the economy.
gregorymasila answered the question on January 26, 2018 at 06:53

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