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In Indonesia, state-owned enterprises (Indonesian: Badan Usaha Milik Negara (BUMN)) play an important role in the national economy. Their roles includes contributor for national economy growth , providing goods or services which are not covered by private company , employment provider, providing support guidance to small and medium businesses ...
The private sector employs most of the workforce in some countries. In private sector, activities are guided by the motive to earn money, i.e. operate by capitalist standards. A 2013 study by the International Finance Corporation (part of the World Bank Group ) identified that 90 percent of jobs in developing countries are in the private sector.
In 1961, Murray Rothbard wrote: "Any reduction of the public sector, any shift of activities from the public to the private sphere, is a net moral and economic gain." [ 4 ] American libertarians and anarcho-capitalists have also argued that the system by which the public sector is funded, namely taxation, is itself coercive and unjust . [ 5 ]
A private good is defined in economics as "an item that yields positive benefits to people" [1] that is excludable, i.e. its owners can exercise private property rights, preventing those who have not paid for it from using the good or consuming its benefits; [2] and rivalrous, i.e. consumption by one necessarily prevents that of another.
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Gross private domestic investment is the measure of physical investment used in computing GDP in the measurement of nations' economic activity.This is an important component of GDP because it provides an indicator of the future productive capacity of the economy.
Private companies were allowed to co-operate in operation of railways (art. 6). [ citation needed ] On 1 August 1990, PJKA changed to Perusahaan Umum Kereta Api (Perumka, the Railways Public Corporation), [ 12 ] [ 13 ] and as of 1 June 1999 converted into joint-stock company PT Kereta Api (Persero) (PT KA, Indonesian Railways Company JSC). [ 14 ]