The public sector refers to jobs that are with governmental agencies. It contrasts with the private sector, which is comprised of businesses owned by individuals or corporations. Public sector jobs may be with local, city, county, state or federal governmental agencies. The two terms are usually used in reference to employment.Know More
Low-paying public sector jobs include bus drivers, postal workers, customer service representatives at agency offices and schoolteachers. High-paying jobs in the public sector include attorneys, judges and elected officials.
Some types of jobs occur in both the public and private sector. For example, research scientists may work for a corporation, which is the private sector. Alternatively, scientists may work with the Department of Defense, a component of the federal government.
Public sector jobs often pay less than comparable private sector jobs, although their benefits may help offset the lower salary. Because they are public jobs, the hiring and firing process is likely to be more elaborate than those in the private sector.
The public sector is funded with taxpayer dollars, while private sector jobs are paid out of the revenues generated by the company. The public sector does not mean the same thing as a publicly traded company. Publicly traded companies are private-sector corporations with stock that may be purchased by anyone.Learn More
The definition of global business environment is multiple sovereign nations outside of the organization's home environment influencing how the organization makes decisions for how to use its resources. The company's operating situation depends on both external and internal factors.Full Answer >
The advantages of trading blocs include easy access to each other's markets, protection of individual markets from cheap imports and increased trade between member countries. Disadvantages of trading blocs include limited trade with producers outside the trading bloc, distortion of world trade and retaliation by other countries.Full Answer >
Monetary policy can either be expansionary or contractionary. The former occurs when the central banking system of a country, such as the Federal Reserve in the United States, increases the money supply and lowers interest rates, while the latter occurs when it decreases the money supply and raises interest rates.Full Answer >
Four sectors of the economy are the primary sector, the secondary sector, the tertiary sector and the quaternary sector. The various sectors are defined by population engagement and by relationship to the Earth's raw materials.Full Answer >