2. Ownership Within a mixed economy: private and public ownership exists.
3. Public Sector Public Sector Owned / controlled by central / local government. Mainly funded through taxes. Essential services for good of whole community. Profit not usually a major objective. Other Objectives can be: Save jobs Keep prices low
4.
5.
6. Privatisation The selling of state owned assets to the private sector, transferring nationalised industries back into private ownership. Policy pursued in recent years in China although many firms still partly owned by Government.
7. Privatisation Examples of nationalised industries in UK were (dates show year of privatisation): British Telecom (1984) British Gas (1988) British Airways (1987) British Steel (1988) Water Boards (1989) Electricity Boards (90) British Coal (1994) Railtrack (1996). Now find out anything you can on privatisations that have occurred in China (Group work 15 minutes activity.
8.
9.
10.
11.
12.
13.
14. Private Sector Private sector organisations owned, controlled by private individuals eg Sole traders, partnerships, limited companies. –Remember Public Limited companies are in the private sector!
