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Private sector

 
Real Estate Dictionary: Private Sector

All economic activity other than that of government.
Example: The total economy is composed of two sectors, the private sector and the public sector.

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Geography Dictionary: private sector
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That part of a national economy which is not owned by the state. Compare with public sector.

Economics Dictionary: private sector
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That part of an economy in which goods and services are produced by individuals and companies as opposed to the government, which controls the public sector.

Wikipedia: Private sector
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Economic sectors
Three-sector
hypothesis
Colin Clark
Jean Fourastié
Primary sector
(raw materials)
Secondary sector
(manufacturing)
Tertiary sector
(services)
Others suggested
Quaternary sector
Quinary sector
By ownership
Public sector
Private sector
Business sector
Voluntary sector

In economics, the private sector is that part of the economy which is both run for private profit and is not controlled by the state. By contrast, enterprises that are part of the state are part of the public sector; private, non-profit organizations are regarded as part of the voluntary sector.

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Legal status

A variety of legal structures exist for private sector business organizations, depending on the jurisdiction in which they have their legal domicile. Individuals can conduct business without necessarily being part of any organization.

In countries where the private sector is regulated or even forbidden, some types of private business continue to operate within them.

The private sector focuses on the needs of the shareholders.

Employment

The private sector employs the majority of the workforce in some countries.[citation needed] However, in some countries such as the People's Republic of China, the public sector employs most of the workers. [1]

Statistical organizations

See also

References


 
 

 

Copyrights:

Real Estate Dictionary. Dictionary of Real Estate Terms. Copyright © 2004 by Barron's Educational Series, Inc. All rights reserved.  Read more
Geography Dictionary. A Dictionary of Geography. Copyright © Susan Mayhew 1992, 1997, 2004. All rights reserved.  Read more
Economics Dictionary. The New Dictionary of Cultural Literacy, Third Edition Edited by E.D. Hirsch, Jr., Joseph F. Kett, and James Trefil. Copyright © 2002 by Houghton Mifflin Company. Published by Houghton Mifflin. All rights reserved.  Read more
Wikipedia. This article is licensed under the Creative Commons Attribution/Share-Alike License. It uses material from the Wikipedia article "Private sector" Read more