The country is filled with the population that work, live and enjoy in that country. The people living in that country require some of the services while they live in the country. These services are provided by the government or the people who are running a business for that service. The service that is provided by the government is known as the public sector. The service that is provided by the people or the corporation is known as a private sector.
So, what is the main difference between the public sector
and private sector? Let’s see it from the very basic things. The private sector
is the ones that are been running by the people or by the corporation. The
private sector business must face the competition with the other private sector
business. The country’s population are wouldn’t pay a higher amount for the
same product that is available at a cheaper price in a different store.
That is why the private sector must come up with the best price that they can give to the customer and as well as make a profit out of it. The private sector business is financed by the profit they make in the market by the selling their products or the services. The private sector business has to face the competition in the market has to come up with the lowest price that they can come up with and can also make a profit out of it.
The public sector is the business that is been running the government. The public sector is the business that provides the population the services. The government sector doesn’t have to face the competition. The public-sector business doesn’t have to come up with the best price to make the profits so that they can run their business.
The public sector is financed by the government, by the money which is paid by the population of the country as a tax. The best thing about the public sector is that they don’t have to compete in the market because they don’t have to make the profits. It doesn’t matter how less we use the service that is provided by the public sector. The public sector also contains the services like the police department, firefighters etc.This is the main difference between the public sector and the private sector of the country. These both the sectors are for the comfort of the people living in the country. The best thing to do is combine these two sectors and get the most out of it. Let us say if you want to mail a very important cargo then will you go to government post office or the private sector post office.