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Transcript
Spheres of Economic Activity
Core Sphere – household, family, community that organize
resource management, production and consumption.
work is rewarded directly by what it produces
eg. Childcare, elderly care, decisions on labour supply, decision
on skills and education, allocation of consumption (and
savings/investment)
Public-Purpose Sphere – governments, NGOs, international
organizations
Exist for a specific purpose related to the “public good”, i.e.
beyond individual and family interest.
eg. Regulation, direct provision