Question

Explain how the public sector contributes to the economic development of the country

Answer 1

Answer:

Public sector is an important sector for the development of economy.

(i) There are several things needed by the society as a whole but which the private sector will not provide at a reasonable cost. As huge sum of amount is needed which private sector can not afford, so public sector is needed there. For example, building bridges, railway etc.

(ii) There are several basic activities which government has to support, for example, selling electricity at lower cost, providing driking water at affordable rate etc.

(iii) There are some activities which government has to perform like providing health and education facilities. So public sector is needed.

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