Definition. In general terms, the public sector consists of governments and all publicly controlled or publicly funded agencies, enterprises, and other entities that deliver
Definition of private sector: The part of national economy made up of private enterprises. It includes the personal sector (households) and corporate sector (companies), and is responsible for allocating most of the resources with...
Economic Definition of private sector. Defined. Offline Version: PDF.
A private-sector organization is created by forming a new enterprise or privatizing a public sector organization. A large private-sector corporation may be privately or publicly traded.
The private sector is the part of a country's economic system that is run by individuals and companies, rather than the government. The segment of the economy under control of the government is known as the public sector.
Effective fiscal policy requires a clear definition of the public sector. In recent years, the use of private sector management techniques in the public sector
Pensions made up 7.4 percent of the total benefits package in the public sector and 3.1 percent in the private sector1. The dollar cost differential between sectors reflects differences in the work activities and occupa-tions in each sector2.
Defining the private sector is an essential stage in reaching any understanding of current practices and the role the sector should be given in development policies. The efforts hitherto made to give it an official definition have, however, only resulted in a rather vague consensus.
1.2 Basic Definition of the Private Sector.