The Role of the Public Sector (Grade 12 NSC Matric Economics): Flashcards
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Number of main public sector provisioning problems
Number of main public sector provisioning problems
Six
Accountability (definition)
Accountability (definition)
Govt's responsibility to answer for actions & decisions
Efficiency (definition)
Efficiency (definition)
Providing goods/services quickly, right quantity & quality
Three causes of public sector inefficiency
Three causes of public sector inefficiency
Bureaucracy, incompetence, corruption
How private sector determines demand
How private sector determines demand
Market forces and prices
Parastatals/SOEs (definition)
Parastatals/SOEs (definition)
Companies that belong to government
Three South African SOE examples
Three South African SOE examples
Eskom, SABC, Transnet
Privatisation (definition)
Privatisation (definition)
Transferring ownership from public to private sector
Nationalisation (definition)
Nationalisation (definition)
State taking control of privately-owned enterprises
Mnemonic for six public sector problems
Mnemonic for six public sector problems
Always Eat Apples Pears Peaches Pineapples