Public Sector

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The public sector consists of both private and public sectors. Some of the common things that are found in the public sector include the departments of defense, finance, commerce and health services. In the private sector, there are large banks, corporations, non-profit organizations, insurance companies, real estate brokers, software development and manufacturing corporations, transportation companies, utility companies, publishing houses and retail stores. In the manufacturing sector, the main manufacturing categories are: pharmaceuticals, automobiles, communications equipment, appliances, chemicals, electronics, food and beverages, health care, IT, machinery, motor vehicles, machines and mechanical engineering.

There are two types of economies in the public sector; the mixed and the direct. A mixed economy is one where goods and services from both private and public organizations are sold. On the other hand, a direct economy has only products and services from a single source. Both types of economies have a significant effect on the overall economic stability of a country.

A government can be defined as a institution that provides for the general welfare of society. Although government agencies are normally categorized as public enterprises, a growing number of private non-government organizations are coming into existence. These private organizations play a major role in the economy. They take care of many economically essential activities like managing resources, monitoring business transactions, providing education and training, implementing legislation, collecting taxes and delivering social services. The government does not directly participate in these activities; instead, it makes use of institutions like universities, schools, hospitals and other similar private organizations to perform these tasks.

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