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Simple English definitions for legal terms
public revenue
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A quick definition of public revenue:
Public revenue refers to the money that a government earns from taxes, fees, and other sources. It is the income that a government uses to pay for things like schools, roads, and public services. Marginal revenue is the amount of money earned from selling one more unit of a product or service. General revenue is the income stream that a state or municipality uses to pay its obligations, unless a law calls for payment from a special fund. Land revenue is the revenue derived from lands owned by the Crown in Great Britain, which are now largely granted to subjects within narrow limits.
A more thorough explanation:
Definition: Public revenue refers to the income stream that a government receives, usually from taxes, levies, and fees.
Examples:
- General revenue: This is the income stream that a state or municipality uses to pay its obligations, unless a law calls for payment from a special fund. For example, if a city needs to pay for road repairs, it would use its general revenue to do so.
- Land revenue: This is revenue that is derived from lands owned by the Crown in Great Britain. However, since most of these lands have been granted to subjects over the years, the revenue generated from them is now limited.
- Marginal revenue: This refers to the amount of revenue earned from the sale of one additional unit. For example, if a company sells 100 units of a product and earns $10,000 in revenue, and then sells one more unit and earns $100 in revenue, the marginal revenue for that additional unit is $100.
The examples illustrate the definition of public revenue by showing different types of income streams that a government or organization can receive. General revenue is the most common type of public revenue, as it is used to pay for a variety of obligations. Land revenue is a more specific type of public revenue that is derived from lands owned by the Crown in Great Britain. Marginal revenue is a concept that is used to measure the additional revenue earned from the sale of one more unit of a product or service.