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Difference private sector and public sector

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Difference private sector and public sector

Posted by Aashik Uikey 5 years, 1 month ago

CBSE > Class 11 > Business Studies

1 answers

Yogita Ingle 5 years, 1 month ago

Private sector	Public sector
The 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

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