Question

Write the difference between public sector and private sector. ​

Answer 1

Public SecTor :-

The section of a nation's economy, which is under the control of government, whether it is central, state or local, is known as the Public Sector.

Basic objective :-

To serve the citizens of the country.

Raises money from :-

Public Revenue like tax, duty, penalty etc.

PrivaTe SecTor :-

The section of a nation's economy, which owned and controlled by private individuals or companies is known as Private Sector.

Basic objective :-

Earning Profit

Raises money from :-

Issuing shares and debentures or by taking loan.

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Answer 2

Answer:

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Explanation:

Public Sector refers to the part of the Country's overall economy which is controlled by the Government or various Government bodies. Private Sector refers to the part of the Country's overall economy which is controlled by Individuals or Private Companies.

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