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Institutional sectors of the national economy

Institutional sectors of the national economy

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In most modern countries, the social democratic and liberal approaches prevail on the place of the public sector in state management and socioeconomic development, which significantly reduces the role of the public sector in production activities, so the public sector today largely encompasses social activities, i.e. socially upgrading production a...

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Context 1
... of the sectors and subsectors consist of groups of institutional units that have a similar type of economic behavior, so that grouping into sectors is done based on the type of production and basic activity and function of the institutional unit, while division into subsectors allows more precise description of economic behavior of institutional units. Figure 1 shows the institutional sectors and subsectors that make up a country's national economy. Basic economic feature of the state sector is the non-market character of the production of goods and services of institutional units, that is, in order for an institutional unit to be classified in the state sector, it must meet some of the That it is established by legal procedure with legislative, executive and judicial power over other units in the economic territory of the country that provide non-market goods and services intended for the community; ...