Explain how public sector contributes to the economic development of a nation.

Expert Solution

In the public sector, ownership of assets and delivery of services is under the government. The government spends huge amounts of money in providing various services to the public at reasonable costs.

The government thus contributes towards the economic development of the nation:

By development of infrastructure, i.e.,

1. Construction of roads, national highways, flyovers, metro-rails, railway lines, irrigation through dams, etc.

2.The government provides an impetus to industrial growth by supplying electricity at affordable rates.

3.By running schools and providing good quality of education, the government is trying to remove illiteracy and taking the nation forward.

In the public sector, ownership of assets and delivery of services is under the government. The government spends huge amounts of money in providing various services to the public at reasonable costs.

Nipun Maiti answered 2 years ago

What is the function of money? Discuss how money contributes to economic growth and\or development? If...

What is the function of money? Discuss how money contributes to economic growth and\or development? If there is no money will society find a way to exchange goods and services without it? Explain.

1-Explain the potential benefits from greater public sector involvement in healthcare sector industry? 2- Explain how...

1-Explain the potential benefits from greater public sector involvement in healthcare sector industry? 2- Explain how government actions that promote health are pure public goods that private markets would not produce them.

1. What is happening in the economic loop if the public sector raises the payouts of...

1. What is happening in the economic loop if the public sector raises the payouts of child benefit? Explain the courses of events that occur as far as you can by telling how all actors are affected by these new events. Please give a thorough answer with a link to a source if you want a up vote.

a) Explain Friedman’s Stage Theory of Regional Development. How is it different from sector theory of...

a) Explain Friedman’s Stage Theory of Regional Development. How is it different from sector theory of regional development? b)Differentiate between Weber’s Theory of Industrial Location and Florence’s Theory of Industrial Location. c)The relative desirability of a location depends on four types of location factors. Explain three of the classification factors for Industrial Location.

Explain play contributes to cognitive development for adolescents or why it is important for educators to...

Explain play contributes to cognitive development for adolescents or why it is important for educators to understand play and cognitive development for adolescents

Given the arguments about how the public sector is different than the private sector, is it...

Given the arguments about how the public sector is different than the private sector, is it fair for people to complain about government being slow compared to private firms? Remember to draw on your readings and the lecture to support your thoughts.

Explain the economic concepts underlying a Pigouvian tax in the energy sector. c. Explain the economic...

Explain the economic concepts underlying a Pigouvian tax in the energy sector. c. Explain the economic concepts underlying an emissions trading system in the energy sector. d. Discuss the economic logic underlying urban traffic policies to manage congestion, protect public health, and reduce emissions of air poll

Question

Explain how public sector contributes to the economic development of a nation.

Solutions

Expert Solution

Related Solutions