Public & Private enterprise - Essay Example

Public and Private Enterprise Public and Private Enterprise Section One Question One The economic theory which is applicable in the country is the theory of welfare economic. This theory is applicable to the country, because it focuses on how to improve social welfare in a country. The theory analysis different issues like public policy design, government failure and market failure and public finance. This theory is used as a tool in a country to improve social welfare and it will help in improving the welfare of the people (Kelly, 2007).

Question TwoIn today’s economy there is clear distinction of private and public goods and services. Different states have set up regulation to control production of goods and services. Some good and services are not suppose to be provided by the private sectors in some countries. The public goods and services are defined by economist as non excludable and non rival while private goods are excludable and rival (Kelly, 2007). Question ThreeIn public purchasing, it is important to use ethics in order to improve the morale and loyalty of customers and workers.

Ethics in management ensure that leaders behave according to the code of contact hence attracting customers and retaining the previous customers (Kelly, 2007)Question FourIn the reconstruction of Tappan Zee Bridge it is important to use the Public-Private Partnership (PPP). The construction will be effective since both the private and public sector will provide services and funds. There will be merging of ideas and the construction will be effective (Kelly, 2007). Section TwoQuestion OneIn respect to the wimp video there are five types of government.

Monarchy or dictatorship is the first form of government which is ruled by a king with nobles. Oligarchy is another form which is the most common form of government ruled by powerful few. Anarchy is another form which means without government. People decided to have no government due to crimes committed by the government. Government is necessary for the protection and security and anarchy is not a good form of government. Democracy type f government means a form of government the rule of the majority.

Republic government means the public thing and the government is limited by the law to safeguard the public (Kelly, 2007). Question TwoPrivate-public enterprises are a contract made between a private party and a public sector authority. In the enterprise, a private party provides a service and assumes all risks, substantial financial and technical risks in the business. Example of the private-public enterprise is health organization providing health services, water privatization, centralized units and financing like banking services (Kelly, 2007).

Question ThreePrivatization is defined is the transfer of ownership of a government company from government to private. Contract of service is the agreement made between two organizations or individuals on provision of certain services for a specified period of time. Public-private partnership is a service provided by the government or private sector in which the funds are provided by the government together with one or more private companies (Kelly, 2007). Question FourSupply Side economics claims that production is not marked by demand and producing things which can be used by the producer is what makes good and services available to the customers on the shelves while Keynesian claim that the production of goods is determined by the demand and the producers produces goods in respect to the demand (Kelly, 2007)Question FiveBenefit Corporation is a nongovernmental organization and on the enterprise continuum it can fit in the industry architecture (Kelly, 2007).

ReferenceKelly L. (2007). Service Contracting, a Local Government Guide, 2nd ed. Washington, D.C: ICMA Press.