Having public sector is important for a country. Every country needs well-managed public-sector enterprises to ensure continuous operations of the country.
Posts published in “THE ECONOMY”
Most of the countries in the world nowadays have mixed economies. These countries have both have private sector and public sector.
Another classification of businesses. Instead of looking at sectors of the economy, let's consider grouping various businesses based on the type of product.
The classification of business activity by sectors of the economy is not used to define a country as a developing or a developed nation.
The goods and services which enterprises produce can be used to classify all of the country's businesses into one of five different sectors of the economy.
Money is a generally accepted means of exchange. Money is essential for the smooth exchange of goods and services in markets between sellers and buyers.