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Private sectors exist in all economic systems,weather it's a command, free or mixed economies. What's important to understand is the role of the private sector in each economic system. In free market economies (laissez faire), the government stands back and let people work, controlling and monitoring the economic factors from a far and letting the invisible hand do the work (ex. improving neighborhoods, creating job opportunities, etc.).
In command ecnomic systems, the private sector has a marginal role because the government has control over all major businesses like oil and communication.
The mixed economy is a combination of both.
by A.O.-King
What else can I help you with?
Is icici bank a private sector or public sector?
ICICI Bank is a private sector bank. ICICI Bank is India's largest private sector bank and is one of the top 5 big banks in the country. It has around 2000 branches across the country and serves millions of customers.
What country is currently privatizing by transferring ownership form the public sector to the private sector?
United States of America.
Difference between public and private sector?
Ownership of the public sector of a certain country is shared equally by all citizens of that country. There should be certain laws that specify how does the PS get revenues and how does it spend them, how does it hire & fire employees, lowest and highest possible salaries ...etc. While ownership of any private sector entity is limited to the persons who paid up the capital to form it. Those persons may or may not be citizens of that country. Each private sector entity could invent its own rules of hiring & firing and payouts ...etc.
Is Coca Cola a public sector or a private sector company?
Is a private sector
Is the NFL a public sector or private sector?
private
Is microsof pulbic or private sector?
Microsoft is in the private sector.
What do you mean by private sector banks?
Private sector banks is a bank that is owned by the private individual. Thats bank called private sector bank.
What are private sector and public sector?
Private sector are things that are owned by people. Public sector are things that are owned by the government.
What are private sector wages?
They are the wages paid to employees in the private sector.
Differences between public sector accounting and private sector accounting?
The difference between public sector and private sector is that when you're in the public sector you work for the government whereas private sector is not. Same applies to accounting.
What is the difference between private sector bonds and public sector bonds?
the public sector does not aim to make a profit and the private sector does an example of the private sector would be primark public sector would be the police,fire engines. The government own the public sector whilst the private sector is owned by its own individuals.
Rate causes and solutions to unemployment in Nigeria?
by implementing every sector in nigeria weather private or public sector and morealso regulating the financial economy
