public sector

Definition

The part of the economy concerned with providing basic government services. The composition of the public sector varies by country, but in most countries the public sector includes such services as the police, military, public roads, public transit, primary education and healthcare for the poor. The public sector might provide services that non-payer cannot be excluded from (such as street lighting), services which benefit all of society rather than just the individual who uses the service (such as public education), and services that encourage equal opportunity.

Use public sector in a sentence

Companies within the public sector can be one of two types - either funded directly by the government or publicly owned where a majority of the company's shares are owned by the government.

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cohabitation The Government Pension Investment Fund