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The public sector is the part of the economy providing basic good and services which are controlled and maintained by either the federal or local government.

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Q: What does the public sector mean in economics?
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What is public economics?

Public economics (or economics of the public sector) is the study of government policy through the lens of economic efficiency and equity. At its most basic level, public economics provides a framework for thinking about whether or not the government should participate in economics markets and to what extent its role should be. In order to do so, microeconomic theory is utilized to assess whether the private market is likely to provide efficient outcomes in the absence of governmental interference. Inherently, this study involves the analysis of government taxation and expenditures.


What its tertiary economics?

Like in jobs? Well in jobs its the sector in charge of like commercialism and public services. ie: Store Clerk, maid, ect.


Dicuss the interdependence of micro economics and macro economics with examples?

Interdependence Between Micro Economics And Macro EconomicsPUBLIC SECTOR: Public sector is an organization which is owned by public authorities including central state or local authorities to an extend of 50% or more. The public sector is that portion of society controlled by national, state or provincial, and local governments. The public sector overlaps with the private sector in producing or providing certain goods and services. The extent of this overlap varies from country to country, state to state, province to province, and city to city. This overlap is most often seen in waste management, water management, health care, security services, and shelters for homeless and abused people.ROLE OF PUBLIC SECTOR IN INDIA:The public sector has been playing a vital role in the economic development of the country. In fact the public sector has come to occupy such an important place in our economy that on its effective performance depends largely the achievement of the country's economic n social goals. Public sector is considered a powerful engine of economic development and an important instrument of self-reliance. The main contributions of public enterprises to the country's economy may be described as follows:* Employment: Public sector has created millions of jobs to tackle the unemployment problem in the country. Public sector accounts for about two-thirds of the total employment in the organised industrial sector in India. By taking over many sick units, the public sector has protected the employment of millions. Public sector has also contributed a lot towards the improvement of working and living conditions of workers by serving as a model employer.* Balanced Regional Development: Public sector undertakings have located their plants in backward and untrodden parts of the county. There area lacked basic industrial and civic facilities like electricity, water supply, township an manpower. Public enterprises have developed these facilities thereby brining about complete transformation in the socioeconomic...


How is the term business sector used in economics?

In economics, the term business sector is the portion of the economy made up by the companies. It excludes the economic activities of the government in general.


Is Greggs in the public sector or the private sector?

its a third sector

Related questions

What has the author Charles Victor Brown written?

Charles Victor Brown has written: 'Public sector economics' -- subject(s): Public Finance 'Economic principles applied' -- subject(s): Economics


What rare the main differences between public and private sector?

I take it you mean what are instead of what rare. The private sector is owned by the people. The public sector is owned by the government.


What do you mean by joint sector explain the importance of joint sector?

Simply stated, the joint sector is a form of partnership between the public sector an the private sector


Is the police a public sector?

public sector


What has the author Juan Braun Ll written?

Juan Braun Ll. has written: 'Taxation, public services, and the informal sector in a model of endogenous growth' -- subject(s): Tax evasion, Endogenous growth (Economics), Economic development, Econometric models, Informal sector (Economics)


What is public economics?

Public economics (or economics of the public sector) is the study of government policy through the lens of economic efficiency and equity. At its most basic level, public economics provides a framework for thinking about whether or not the government should participate in economics markets and to what extent its role should be. In order to do so, microeconomic theory is utilized to assess whether the private market is likely to provide efficient outcomes in the absence of governmental interference. Inherently, this study involves the analysis of government taxation and expenditures.


What is public sector budgeting?

A sector in which the public can budget


What can public sector and private sector learn from each other?

what can public sector learn from private sector


What its tertiary economics?

Like in jobs? Well in jobs its the sector in charge of like commercialism and public services. ie: Store Clerk, maid, ect.


Why is it necessary for the public sector to exist?

the public sector necessity


Dicuss the interdependence of micro economics and macro economics with examples?

Interdependence Between Micro Economics And Macro EconomicsPUBLIC SECTOR: Public sector is an organization which is owned by public authorities including central state or local authorities to an extend of 50% or more. The public sector is that portion of society controlled by national, state or provincial, and local governments. The public sector overlaps with the private sector in producing or providing certain goods and services. The extent of this overlap varies from country to country, state to state, province to province, and city to city. This overlap is most often seen in waste management, water management, health care, security services, and shelters for homeless and abused people.ROLE OF PUBLIC SECTOR IN INDIA:The public sector has been playing a vital role in the economic development of the country. In fact the public sector has come to occupy such an important place in our economy that on its effective performance depends largely the achievement of the country's economic n social goals. Public sector is considered a powerful engine of economic development and an important instrument of self-reliance. The main contributions of public enterprises to the country's economy may be described as follows:* Employment: Public sector has created millions of jobs to tackle the unemployment problem in the country. Public sector accounts for about two-thirds of the total employment in the organised industrial sector in India. By taking over many sick units, the public sector has protected the employment of millions. Public sector has also contributed a lot towards the improvement of working and living conditions of workers by serving as a model employer.* Balanced Regional Development: Public sector undertakings have located their plants in backward and untrodden parts of the county. There area lacked basic industrial and civic facilities like electricity, water supply, township an manpower. Public enterprises have developed these facilities thereby brining about complete transformation in the socioeconomic...


Differences between public sector accounting and private sector accounting?

The difference between public sector and private sector is that when you're in the public sector you work for the government whereas private sector is not. Same applies to accounting.