ECO-Firms, page no 203 #Eco #Firms

What are public and private sectors:

Public sector: The public sector consists of government-owned and controlled organizations that provide essential services to citizens. These services include healthcare, education, infrastructure development, law enforcement, and social welfare programs. The primary goal of the public sector is to serve the public interest, ensuring social welfare and national security. Funding for public sector activities comes from taxes, government revenue, and bonds. Decision-making in the public sector is guided by government policies, regulations, and bureaucratic processes. Examples of public sector entities include government agencies, public schools, hospitals, and municipalities.

Private sectors: The private sector comprises businesses and organizations owned by individuals, corporations, or partnerships. The primary objective of the private sector is to generate profits for shareholders by producing goods and services that meet market demands. Private sector companies operate in various industries, such as consumer products, technology, finance, and entertainment. Funding for private sector activities comes from private investments, sales revenue, and loans. Decision-making in the private sector is driven by market forces, competition, and the pursuit of innovation. Examples of private sector entities include companies like Apple and Amazon, small businesses, startups, and entrepreneurs.

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