The state like nature or the private nature of the businesses set the two apart. Public Sector is a part of the country's economy where the control and maintenance is in the hands of Government. The article explains the difference between public sector and private sector in tabular form. The sole purpose of the public sector is to serve the citizens in the best possible way, whereas the goal of the private sector is to earn more and more profits. The businesses operating in both the public and private sectors are critical to the economy of any country and co-exist in the economy. 2. For general businesses without externalities, the private sector is likely to be more efficient and better at job creation. At its very best, I feel the private sector is the place to be. 3. 1. The main purpose of an NGO (non-governmental organization) is to help the public in some way, so profit is not a governing factor. Public sector vs private sector is basically differentiated by the nature of the ownership and their purpose of existence. You often hear news analysts talk about the public and private sectors. On the other hand, the private sector is the part of the country’s economy that is under control of the corporations and the private individuals. Public and private sector companies are required to produce goods and deliver them to the general public. Both the public and private sector have a role to play. Public vs Private Sectors. The public sector is the part of the nation’s economy that is under control of the government. In general terms, I have a sense of a slightly different aura between public and private sector employers and employees. If we talk about Private Sector, it is owned and managed by the private … The nonprofit sector is separate from both the public and private sectors, but it may collaborate with either of them at any given time. Reducing the scope of government spending could create more private sector opportunities for … Firstly, here’s what the public sector … Although most people generally have an idea what these two terms entail, there are intricate differences between the two, which are also useful to learn about.
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