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| 1. |
Difference private sector and public sector |
| Answer» \tPrivate sectorPublic sectorThe private sector refers to all those occupations and economic activities which are owned and controlled by individuals.The public sector refers to all those occupations and economic activities which are owned and controlled by the government.The main aim of the private sector is to earn profits.The main aim is not only to earn profits but also to provide key services to the people at low costs. Hence, the public sector may incur loss.Demand and supply of market forces determines the production activity.The government takes the major decisions in the production\t | |