Question

difference between private and secondary sector??
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Answer 1

the primary sector in valves the extraction of raw materials from the Earth. this is a big change from the mid 19th century in which two third of the labour force was engaged in this sector.

the secondary sector involves the transformation of raw materials into goods.

Explanation:

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Answer 2

Answer:

$\huge\mathfrak\red{Answer}$

$\huge{\underline{\bf{\green{Private \: Sector :-}}}}$

The private sector plays an essential role in both urban and economic development. Not only does the private sector contribute to national income, but it is also a principal job provider. Understanding the private sector might help you steer your private company and eventually your community toward maximum benefits.

The role of the private sector is integral to the development of an economy. Here are some specific roles of the private sector:

$\bigstar$ Significant stakeholders of the economy:

The private sector is an important player in the economy due to the input it makes to the national income. Particularly, it delivers vital goods and services, contributes to tax revenues and ensures the efficient flow of capital.

$\bigstar$ Generate employment

The private sector plays the pivotal role of generating employment opportunities within its community. A significant number of businesses are under the control of the private sector, which suggests that these firms provide more jobs than the public sector.

$\bigstar$ Assist in development

The private sector plays a dominant role in different types of developments. Specifically, it enhances the process of industrialization and community improvement. By introducing new commodities, equipment, machinery and technology, companies in the private sector produce innovative ideas that modify methods of production and lead to better economic development.

$\bigstar$ Promote diversification of business

The private sector is full of firms conducting varied businesses. Essentially, this sector provides new companies with the opportunity to develop no matter the type of business.

$\huge{\underline{\bf{\green{Secondary \: sector :-}}}}$

The manufacturing sector takes raw materials and converts them into finished products. The manufacturing sector is concerned with using raw materials from the primary sectors, such as iron and coke and the production of finished goods, such as cars. These manufactured goods can then be sold in the tertiary sector.

The manufacturing sector is to take these two raw materials and produce steel, which is then used to manufacture other goods, such as cars and bicycles.