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Business Economics Basics Of Engineering Economy

The portion of the economy that is managed by people and businesses for profit and is not under the control of the government is known as the private sector. This sector includes all for-profit companies that are neither owned nor run by the government. Government-run businesses and enterprises are considered to be a part of the public sector and this sector involves the portion of the economy that is made up of both public enterprises and services. To determine: The area of enterprises or business undertakings as the public or private sector. Company E comes under the public sector because it is a multinational e-commerce company that started public offerings in the year 1998. It is a global online trading company whose shares are traded freely. Moreover, the ownership of the company is distributed to stockholders in the general public through the open exchange of shares which makes it a public enterprise. Farmer’s market is not a public company whereas it can be considered as a private company where products such as food and other farm commodities are sold directly from farmers to consumers. Additionally, this market has fewer strict regulations than retail vegetable stores. The state police department is a type of law enforcement that is exclusive to each state and provides for public safety. As a result, the government rather than a private corporation run police organizations in several states. In other words, this department is a public company because it is predominantly carried out by governmental police forces. Car racing facility comes under the government sector because no one is allowed to build a motor racetrack on their own private or personal property without the government's approval. When a person offers property for a racecourse, the government must grant a license for this facility. A social insurance program that provides retirement, disability, and survivor benefits, Social Security is managed by an autonomous agency of the federal government called Social Security. An individual cannot enforce social security in his/her own way and therefore it is not private. EMS system is one of the more ordinary publicly run models that are directly operated or run by the municipality they serve. The services themselves could be delivered by a local government or could fall within the purview of a regional or state government. The vast majority of ATMs (Automated Teller Machines) are not owned by banks, but rather by private individuals, and owning these machines is a tremendously lucrative business because there are very few or no overhead costs. The public, rather than the financial institution, owns a sizable portion of these machines. Travel agency comes under the private sector because these agencies work as an agent and promote suppliers' travel goods and services. Additionally, these organizations offer the general public travel and tourism-related services on behalf of lodging or travel suppliers to present various travel bundles for various locations. Since admission to amusement parks is a cost or subject to charges, they do not fall under the definition of the public sector. A person cannot access parks freely or in his or her own way; rather, they must adhere to certain rules and pay a certain fee before entering. Gambling casino is not considered private as there are some restrictions and guidelines to regulate them. The government uses its authority to control both domestic and foreign gambling. A swap meet is a group of people who come together to purchase, sell, or trade collectibles, secondhand goods, etc. As a result, it is a public market that enables communities to freely exchange goods at reasonable costs.

The portion of the economy that is managed by people and businesses for profit and is not under the control of the government is known as the private sector. This sector includes all for-profit companies that are neither owned nor run by the government. Government-run businesses and enterprises are considered to be a part of the public sector and this sector involves the portion of the economy that is made up of both public enterprises and services. To determine: The area of enterprises or business undertakings as the public or private sector. Company E comes under the public sector because it is a multinational e-commerce company that started public offerings in the year 1998. It is a global online trading company whose shares are traded freely. Moreover, the ownership of the company is distributed to stockholders in the general public through the open exchange of shares which makes it a public enterprise. Farmer’s market is not a public company whereas it can be considered as a private company where products such as food and other farm commodities are sold directly from farmers to consumers. Additionally, this market has fewer strict regulations than retail vegetable stores. The state police department is a type of law enforcement that is exclusive to each state and provides for public safety. As a result, the government rather than a private corporation run police organizations in several states. In other words, this department is a public company because it is predominantly carried out by governmental police forces. Car racing facility comes under the government sector because no one is allowed to build a motor racetrack on their own private or personal property without the government's approval. When a person offers property for a racecourse, the government must grant a license for this facility. A social insurance program that provides retirement, disability, and survivor benefits, Social Security is managed by an autonomous agency of the federal government called Social Security. An individual cannot enforce social security in his/her own way and therefore it is not private. EMS system is one of the more ordinary publicly run models that are directly operated or run by the municipality they serve. The services themselves could be delivered by a local government or could fall within the purview of a regional or state government. The vast majority of ATMs (Automated Teller Machines) are not owned by banks, but rather by private individuals, and owning these machines is a tremendously lucrative business because there are very few or no overhead costs. The public, rather than the financial institution, owns a sizable portion of these machines. Travel agency comes under the private sector because these agencies work as an agent and promote suppliers' travel goods and services. Additionally, these organizations offer the general public travel and tourism-related services on behalf of lodging or travel suppliers to present various travel bundles for various locations. Since admission to amusement parks is a cost or subject to charges, they do not fall under the definition of the public sector. A person cannot access parks freely or in his or her own way; rather, they must adhere to certain rules and pay a certain fee before entering. Gambling casino is not considered private as there are some restrictions and guidelines to regulate them. The government uses its authority to control both domestic and foreign gambling. A swap meet is a group of people who come together to purchase, sell, or trade collectibles, secondhand goods, etc. As a result, it is a public market that enables communities to freely exchange goods at reasonable costs.

Basics Of Engineering Economy

Basics Of Engineering Economy

2nd Edition

ISBN: 9780073376356

Author: Leland Blank, Anthony Tarquin

Publisher: MCGRAW-HILL HIGHER EDUCATION

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Basics Of Engineering Economy

Ch. 7 - Prob. 1P Ch. 7 - Prob. 3P Ch. 7 - Prob. 7P Ch. 7 - Prob. 9P Ch. 7 - Prob. 13P Ch. 7 - Prob. 16P Ch. 7 - Prob. 36APQ

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