Final answer:
Public enterprise is a system where the government owns and operates businesses, typically focused on essential services or sectors where large investments are needed. It contrasts with private enterprise where individuals or companies own businesses.
Step-by-step explanation:
Public enterprise is often seen as a characteristic of command economies. Unlike private enterprise, which is owned and operated by private individuals or companies, public enterprise is owned and run by the government or state. Public enterprises are typically involved in areas considered critical to the nation or services which require massive investments, where the goals are more aligned with public service and welfare rather than profit. For example, utilities, transportation, and healthcare services can be managed by the government in a public enterprise system.