The Private Sector

• The private sector refers to the part of the economy that is owned and controlled by private individuals and firms.

• The main objective of private sector businesses is to earn maximum profits

Examples of Private sector businesses

• Supermarkets• Clothing stores• Barbershops• Pharmacies• Book stores• Taxi operators• Doctors offices

The Public Sector

• The public sector refers to operations in the economy that are undertaken by the government.

• Unlike the private sector, public sector businesses are primarily concerned with providing services for the benefit of the country.

Services provided by the public sector include

• Education• Health• Public utilities (for example water)• Postal services• Road Construction and Maintenance• Police services