Define between private sector and public sector..
Answers
What is a Private-Sector Enterprise?
Private sector enterprises refer to a segment of a national economy. These are owned and controlled by a private group of individuals or even a single entity. This sector comprises countless companies that are divided based on their size and functional capabilities. It includes small and medium enterprises, as well as large companies. They can be both privately or publicly traded organisations.
What is a Public Sector Enterprise?
The single defining characteristic that students must understand while learning public sector meaning is that they are owned, controlled and managed by government bodies. This ownership, control and management by a government body can be complete or partial. Vitally, these companies usually come under specific ministries and are functionally administered by them. Notably, few public sector enterprises are set up by Parliamentary acts. These acts define both their functioning and control.
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