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In economics, a public good (also referred to as a social good or collective good) [ 1] is a good that is both non-excludable and non-rivalrous. Use by one person neither prevents access by other people, nor does it reduce availability to others. [ 1] Therefore, the good can be used simultaneously by more than one person. [ 2]
An economic system, or economic order, [ 1] is a system of production, resource allocation and distribution of goods and services within a society. It includes the combination of the various institutions, agencies, entities, decision-making processes, and patterns of consumption that comprise the economic structure of a given community.
e. Public economics (or economics of the public sector) is the study of government policy through the lens of economic efficiency and equity. Public economics builds on the theory of welfare economics and is ultimately used as a tool to improve social welfare. Welfare can be defined in terms of well-being, prosperity, and overall state of being.
Public policy is an institutionalized proposal or a decided set of elements like laws, regulations, guidelines, and actions [ 1][ 2] to solve or address relevant and real-world problems, guided by a conception [ 3] and often implemented by programs. These policies govern and include various aspects of life such as education, health care ...
There are many types and delivery models of PPPs, the following is a non-exhaustive list of some of the designs: Operation and maintenance contract (O & M) A private economic agent, under a government contract, operates a publicly-owned asset for a specific period of time. Formal, ownership of the asset remains with the public entity.
Public service. A public service or service of general (economic) interest is any service intended to address specific needs pertaining to the aggregate members of a community, [ 1][ 2] whether provided directly by a public sector agency, via public financing available to private businesses or voluntary organisations, or provided by private ...
Public administration is both an academic discipline and a field of practice; the latter is depicted in this picture of U.S. federal public servants at a meeting.. Public administration, or public policy and administration refers to "the management of public programs", [1] or the "translation of politics into the reality that citizens see every day", [2] and also to the academic discipline ...
Local service delivery is the delivery of public services at the local level and is a distinct domain of public policy.Local governments can be more reflective of local needs and interests and a prime driver of innovation in government practices; at the same time, local service delivery deals with some challenges, such as expertise concerns, steering problems, and the presence of economies of ...