Public sector
The Public Sector is any part of a country's economy which is controlled or operated by the state, either by national or local government. It is the opposite of the private sector which includes the part of an economy which is controlled by private individuals or companies.
The public sector often includes public services such as education or healthcare. And often nationalised (government owned) companies and industries.
The size of the public sector varies from country to country. In Communist countries where private ownership was banned, the entire economy belonged to the public sector.
Referenced By
Mixed economy
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