[Q.45] What is the difference between public sector and private sector?

Public sector refers to government-owned organizations and government-provided services.

Private sector refers to 1) organizations that are not government owned, and 2) the goods and services provided by organizations outside of the government. For example, companies owned by individuals are part of the private sector. Even the largest corporation with its common stock publicly-traded on the New York Stock Exchange is part of the private sector.

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