What's it: Macroeconomic sector is an aggregate group representing economic actors. Economists divide it into four groups: household, business, government, and external sectors. Each represents the actors in the economy. The expenditures of the
Economic Sector
Government Sector: Meaning, Budget, and Impact on the Economy
What's it: Government sector includes all institutional units consisting of the central government, state governments, and local governments. Several independent institutions, such as the Central Bank and the Financial Services Authority, also
Industry: Meaning, Classification
An industry is an economic activity related to processing raw materials and manufacturing goods in factories. This definition is synonymous with manufacturing. The term "industry" also means a group of different companies offering similar
Dutch Disease: Meaning, Examples, Causes and Possible Solutions
What's is: Dutch Disease is a term that describes an economic phenomenon when the exploitation of natural resources triggers weakness in other sectors, especially manufacturing. An increase in income from the exploitation of natural resources
Privatization
Privatization is the transfer of ownership from the public sector to the private sector. The government sells state-owned companies to private buyers. It is common during the economic transition from socialism to free markets. The term also
Public Sector: Definition, Role, Pros, and Cons
What's it: The public sector is the economic sector controlled by the state and includes the central government, local governments, and organizations under them. This sector has an essential role in the economy because it has the authority to
Deindustrialization: Definition, Causes, and Effects
Indonesia is facing deindustrialization. We see the contribution of its manufacturing output to gross domestic product continues to fall, from 28% in 2008 to only 17% in 2019. The chart above shows you how severe the decline is. The turning point
Economic Sector: Meaning, Classification
Economic sector refers to a collection of various similar economic activities. Similarities vary depending on the classification we use. It could be based on stages in the production chain, source of income or type of product, or based on
Tertiary sector
Tertiary sector is an economic sector that involves the provision of services. This sector includes various economic activities. Examples are trade, banking, insurance, transportation, health, real estate, accommodation, and education. Services from