Diffentiate between private n public sector?
sahilshukla74:
Public sector means sector which is managed by government and private sectors means sector which is managed by individuals and on partnership
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Differences between public sector and private sector:
Public Sector:-It is a part of the country's economy where the control and maintenance are in the hands of Government. Private Sector:- It is owned and managed by the private individuals and corporations.
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1.Private sector comprises of business which is owned, managed and controlled by individuals.On the contrary, public sector comprises of various business enterprises owned and managed by Government. Such organizations are either fully or partly owned by the center or state and come under the separate ministry. Some of the public sector organizations are set up by a special act of Parliament.
2.The basic objective of public sector is to serve the people and that of private sector is earning profits.
3.Public sector provide job stability whereas Private sector doesn't provide such things.
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