What are some differences between public sector and private

What are some differences between public sector and private sector budgets? Provide examples?

Solution

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 stockpublicly-traded on the New York Stock Exchange is part of the private sector.

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