Question

Concept of private sector and public sector also discuss the their merits and demerits

Answer 1

PRIVATE SECTOR
The section of a nation's economy, which owned and controlled by private individuals or companies is known as Private Sector.

Advantages of the private sector: 
-More opportunities for promotion as the company grows 
-These jobs tend to pay higher 
-More prestige, and the private sector is supposedly more efficient 
-Less bureaucracy 

Disadvantages of the private sector: 
-Less job security 
-Very competitive atmosphere, high pressure environment 
-Workers' rights are sometimes infringed upon 
-Fewer benefits than the public sector.
 

PUBLIC SECTOR
The section of a nation's economy, which is under the control of government, whether it is central, state or local, is known as the Public Sector.

Advantages of the public sector: 
-Job security, it's often difficult to get fired 
-Generous benefits 
-More relaxed atmosphere 

Disadvantages of the public sector: 
-Fewer positions available 
-Lower pay 
-Less flexibility.

I hope it is helpful for you
Plz ✔️ Mark as Brainliest