Private Sector vs Public Sector Whats the Difference? – Legal Business News


“Public and private sector?” This book clarifies the notion using the simplest language through real-life examples which anyone can understand. Let us tell you more.

It starts with an example to ask viewers if they’d prefer the U.S. Postal Service or a company such as UPS or FedEx in order to expedite the shipping of a parcel. Two companiesthat are members of the private sector. However, the former is owned by the American government, i.e., the public sector.

The private sector is comprised from businesses and companies that are owned by people such as the one below illustrates. These companies might include stores, restaurants, malls and convenience stores. They earn money through offering a product people are likely to purchase, and they must make money to survive.

Profits have no importance to the public sector since taxes fund them. So, everyone pays for specific services, regardless the fact that they are using them or not. The government, however, decides which areas they will pay more taxes to you.

You can check the rest of the clip for additional details about these two sectors as well as follow us on our journey to learn more about the world! yinq3trfuh.

Leave a Reply

Your email address will not be published. Required fields are marked *