Highlight the basic concept of the theory of public finance and explain how do they help in understanding the fiscal system of an economy.

The theory of public finance is a branch of economics that explores the role of government in the economy and the ways in which it raises and spends funds. It encompasses a set of principles and concepts aimed at understanding the economic and social aspects of government fiscal activities. The fundamental concepts of public finance, such as public goods, taxation, government expenditure, and fiscal policy, play a crucial role in comprehending the fiscal system of an economy.

One of the primary concepts in the theory of public finance is the idea of public goods. Public goods are characterized by two key features: non-excludability and non-rivalry. Non-excludability means that once the good is provided, it is difficult to exclude individuals from benefiting, and __________ _________ _____ ____ _______ __________ _____ __________ __________ __________ ______ ____.
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