explain the concept of public sector and private sector
Answers
The private sector is the part of the economy that is run by individuals and companies for profit and is not state controlled.Companies and corporations that are government run are part of what is known as the public sector, while charities and other nonprofit organizations are part of the voluntary sector.A public sector is an organization that is owned by the government, and the government is responsible for all the services taking place within. On the contrary, private sectors are organizations that are held by firms or individuals and carry out their activities independently.In general terms, the public sector consists of governments and all publicly controlled or publicly funded agencies, enterprises, and other entities that deliver public programs, goods, or services.