oOwned by the central government (policy decisions – financial targets, prices) oRun by the Board of Directors – day-to-day control – the Board.

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Presentation transcript:

oOwned by the central government (policy decisions – financial targets, prices) oRun by the Board of Directors – day-to-day control – the Board reports to ministers in charge – ministers report to the Parliament

oCemeteries, crematoriums, market halls oStreet cleaning, dustbin collection, waste dump oCar parks, street lighting, fire protection oRecreation facilities, stadiums, golf courses, swimming pools oTheatres, galleries, museums, airports

Natural monopoly in public ownership Essential for social welfare (uneconomic for private businesses) National security /e.g. atomic energy/ Government has resources to fund a vast industry, even if uneconomic Provision of essential services Profits for benefits of the whole nation

- Bosses are politicians (lack of business expertise) - Local issues may be disregarded in favour of policies of national importance - Taxpayers pay for losses

The manufacturing sector consists of a variety of manufacturing ______________. Companies that are owned by shareholders or private individuals are in the __________________sector. A nationalized industry, run by the state, is in the ______________sector, and the companies in this sector are examples of ____________________________________. Any company that produces _______________or products is in the ___________sector. Banks are located within the __________________sector of the economy, or in the ___________________sector of industry.

Do you agree with the: Three reasons public sector employees are killing the economy? Explain your attitude.__________________________________________ ________________________________________________ ________________________________________________ ________________________________________________ ________________________________________________ ________________________________________________ ________________________________________________ ________________________________________________ ________________________________________________ ________________________________________________ ________________________________________________

RB: p.20-I p.21-II,III,IV Read about the history of HT and answer the questions.