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government sectorthat part of the economy concerned with the transactions of the government. Government receives income from TAXATION and other receipts and influences the workings of the economy through its own spending and investment decisions ( GOVERNMENT EXPENDITURE) and through its control (via MONETARY POLICY and FISCAL POLICY) of the spending and investment decisions of other sectors of the economy. The public sector together with the PERSONAL SECTOR, FINANCIAL SECTOR, CORPORATE SECTOR and FOREIGN SECTOR make up the national economy. See CIRCULAR FLOW OF NATIONAL INCOME MODEL.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
That portion of the economy consisting of the government and corporations owned by the government. Contrast with private sector.
The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.