What is meant by public sector in economics?

Public sector economics is an area of study that is directly relevant to our everyday lives. It affects the taxes we pay, the buses and trains on which we travel, the workers who empty our bins, the gas and electricity delivered to our homes, and even the water coming out of our taps! read more

The public sector is one of the largest sectors of any economy; in the US, for example, it accounts for about 20 percent of the entire economy. read more

The public sector is that portion of an economic system that is controlled by national, state or provincial, and local governments. In the United States, the public sector encompasses universal, critical services such as national defense, homeland security, police protection, fire fighting, urban planning, corrections, taxation, and various social programs. read more

Public economics (or economics of the public sector) is the study of government policy through the lens of economic efficiency and equity. At its most basic level, public economics provides a framework for thinking about whether or not the government should participate in economic markets and to what extent it should do so. read more