Question

How does public sector contribute to the economic development in nation explain?

Answer 1

gdp gross domestic product .
it means the final product or income od all three sectors

Answer 2

Answer:

Contribution of public sector to economic development:-

1. In the public sector the government owns most of the Assets and provides all the services .
2. The purpose of the public sector is not just to earn profits but also to provide facilities to the public in different ways .
3. There are several things needed by the society as a whole, some of these need spending large sum of money which is beyond the capacity of the private sector and so they are provided by the public sector.
4. The government supports and encourages industrial activities providing affordable electricity .In the same way to promote agricultural activities the government purchases their products on MSP and provide a subsidy for the poor on these products .

hope thus may help u .....