Public and Private Enterprises

​Private Sector is the part of the economy that is funded by individuals and is, therefore, owned and controlled by private firms. The objective of the private sector is to make profits.

• family owned businesses

• ​One-owner businesses

• ​large business with several investors

• ​multinational companies

• ​the aim is to make a profit

• ​owners are free to make decisions

• ​the business is funded by owners or private individuals

• ​profits are shared among shareholders or those who invest in the business

• ​there is little or no government control

​Public Sector is that part of the economy that is financed by the government through the taxpayers and is operated and controlled by the government. The government in many countries, owns and runs key industries such as rail and bus companies; oil, gas and electricity.

• ​water and sewage services

• ​government agencies such as the Center for Disease Control (CDC), Education and Social Services

• ​government departments such as the tax department

​

​

• ​is funded by the government through taxation

• ​aims to provide a services at the lowest possible price

• ​uses profits to improve the efficiency of the firm or to benefit all citizens

• ​is driven by the need to provide goods and services to the population

​Imagine if we had to pay for all those things as individuals! Almost no one would be able to afford it. But when all our tax dollars are combined, it's possible to make those goods and services available to all. We still have to contribute in the form of fees for some of these. For example, we pay tolls for some highways. We pay monthly usage fees for water, electricity, and waste disposal. The availability and cost of these goods and services vary according to where you reside.

Public Health

​

Many hospitals receive tax dollars to help them operate. ​This ensures that needed medical care is available. It also makes sure the care is there for all, regardless of financial status.

​

​Public health includes services like local health departments. They offer services such as

vaccinations/immunizations

communicable disease testing

information about other social​ services

​

​Public Safety

​

This includes law enforcement, fire protection, ​disaster response, criminal justice, and other services.

​

​

​Again -

Could you afford to hire your own personal bodyguard, fire fighter​, water purification system, military?

Me, neither!​

​How about public parks and recreation facilities? senior citizen programs? public transportation? public parking areas?

​