Private sector

From Wikipedia, the free encyclopedia

The private sector of a nation's economy consists of all that is outside the state. It includes a variety of entities such as for-profit and non-profit enterprises, corporations, banks (other than central banks), any other non-governmental organizations, as well as individuals not employed by the state.In this sector, different factors of production in various production activities are owned and managed privately by individuals or private corporate bodies.Usually private sector is found in mixed and capitalist economies.

Capitalism revolves primarily around the private sector controlling industry.

[edit] See also

• Public sector
• Voluntary sector
• Privatization
• Nationalisation
• Non-governmental organization
• State-owned enterprise
• VEB.
• Legal privacy