Question

Explain the difference between:

Private sector and Public sector? ​

Answer 1

Answer:

Private sector:-

The private sector is usually composed of organizations that are privately owned and not part of the government .

Public sector:-

The public sector is usually composed of organizations that owned and operated by the government.

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Answer 2

Private sector

☞ The private sector is the part of the economy that is run by individuals and companies for profit and is not state controlled. Therefore, it encompasses all for-profit businesses that are not owned or operated by the government.

Public sector

☞ The public sector is that portion of an economic system that is controlled by national, state or provincial, and local governments.

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