The Public sector in the economy (PEA115D)
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8 Terms
Economics
Studies the way in which society chooses to allocate its resources to satisfy a multitude of needs and wants which are infinite in nature
Public sector
Is that portion of an economic system that is controlled by national, state or provincial, and local government.
Public economics
The study of the nature, principles and economic consequences of expenditure, taxation, financing and regulatory actions of government
Government economic policy
The application by government institutions of measures that are designed to influence economic behaviours to achieve certain in outcomes (balance of payments; economic growth; income re-distribution encounter inflation ectera)
Note 
Flashcards (29)