THE PUBLIC SECTOR.

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Presentation transcript:

THE PUBLIC SECTOR

READING - THE PUBLIC SECTOR, RB p 34 What’s the difference between central and local government? What’s the difference between public and merit goods? What is the role of the public sector? What types of businesses are included in the public sector? Can you give some examples? READING – read the text in the RB, p 34 and check your answers.

VOCABULARY, RB p 35 Do the tasks III, IV & V.

PUBLIC VS PRIVATE SECTOR THE PUBLIC SECTOR THE PRIVATE SECTOR ●

PUBLIC VS PRIVATE SECTOR state services (the army, the police force, most schools and hospitals...) public corporations nationalised industries municipal enterprises businesses that are run for the benefit of the people who own them central government departments and government agencies some public utilities (e.g. electricity) private ownership by private individuals → use it to achieve different objectives: personal factors (prestige, power, self-esteem), job satisfaction and income through profits almost all businesses government ownership for the benefit of everyone → enterprises do not exist to make a profit for owners or shareholders but to provide services for the whole community

PUBLIC VS PRIVATE SECTOR

FOOD FOR THOUGHT... Explain the meaning of the following quote. How does it comment on the free market economy? "The market has a keen ear for private wants, and a deaf ear for public needs." (R. Heilbroner) Think about the differences between the PUBLIC and the PRIVATE SECTOR.