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PUBLIC SECTOR BUSINESSES vs PRIVATE SECTOR BUSINESSES, Definition - Coggle…
PUBLIC SECTOR BUSINESSES vs PRIVATE SECTOR BUSINESSES
public
owned/controlled by the goverment
the part of an economy that is controlled by the state.
private sector business
definition
A part of the country's economic that is run by individuals and companies
examples
jasmis, albaik
features
profit motive, private finance, limited state regulation
advantages
lower taxation, higher set up costs, easier to grow funds
disatvantages
lack of flexibility, difficulty raising capital, complex accounts
examples:
public schools
public hospitals
police agencies
public transportation
features
Financed by Government.
Public Services.
Helpful in Implementing Government Plans
Financial Independence.
Government Management.
advantages
Economies of scale.
Easier planning and coordination.
Quicker decisions.
Raising funds through private sourcing.
Autonomous set-up.
disadvantages
Difficult to manage.
Political interference.
Expensive to maintain and operate.
Definition