The private sector refers to the part of the economy that is owned and operated by private individuals or non-governmental organizations. It includes businesses, corporations, and enterprises that are driven by profit motives and operate independently of government control. In the private sector, resources are allocated based on market forces such as supply and demand. Examples of private sector industries include manufacturing, retail, finance, technology, and services. The private sector plays a significant role in driving economic growth and providing employment opportunities.
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Answer:
the part of the national economy that is not under direct state control.
Explanation:
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The private sector refers to the part of the economy that is owned and operated by private individuals or non-governmental organizations. It includes businesses, corporations, and enterprises that are driven by profit motives and operate independently of government control. In the private sector, resources are allocated based on market forces such as supply and demand. Examples of private sector industries include manufacturing, retail, finance, technology, and services. The private sector plays a significant role in driving economic growth and providing employment opportunities.