Private sector

Economic sectors
Three-sector hypothesis
Primary sector: raw materials Secondary sector: manufacturing Tertiary sector: services
Theorists
Colin Clark · Jean Fourastié
Additional sectors
Quaternary sector · Quinary sector
Sectors by ownership
Business sector · Private sector · Public sector · Voluntary sector
v · economics, the private sector is that part of the economy, sometimes referred to as the citizen sector, which is run by private individuals or groups, usually as a means of enterprise for profit, and is not controlled by the state. By contrast, enterprises that are part of the state are part of the public sector; private, non-profit organizations are regarded as part of the voluntary sector. Legal status A variety of legal structures exist for private sector business organizations, depending on the jurisdiction in which they have their legal domicile. Individuals can conduct business without necessarily being part of any organization. The main types of businesses in the private sector are: Sole proprietor or sole trader Partnership, either limited or unlimited liability Private Limited Company or LTD-limited liability, with private shares Public Limited Company – shares are open to the public. Two examples are: Franchise – business owner pays a corporation to use their name, receives spec for the business Workers cooperative – all workers have equal pay, and make joint business decisions In countries where the private sector is regulated or even forbidden, some types of private business continue to operate within them. Employment The private sector employs the majority of the workforce in some countries.[citation needed] However, in some countries such as the People's Republic of China, the public sector employs most of the workers.[1] Statistical organizations Eurostat United Nations Statistics Division [1] UNESCO Institute for Statistics [2] OECD Statistics Division [3] PARIS21 [4] International Association for Official Statistics (IAOS) [5], a section of the ISI [6] Worldwide statistical sources See also Economics portal Free enterprise Private enterprise Private law Public economics Company law References ^ Joe Zhang. "China’s private sector in shadow of the state". ft.com. http://news.ft.com/cms/s/efebf320-34ff-11da-9e12-00000e2511c8.html. Retrieved 2007-07-06.  Wikimedia Foundation. 2010. Игры ⚽ Поможем решить контрольную работу Friedrich Paschen Puffin crossing Look at other dictionaries: private-sector — UK US adjective [before noun] ► ECONOMICS relating to the part of a country s economy that consists of companies, businesses, etc. that are not owned by the government: »Government policy continues to emphasize private sector participation in… …   Financial and business terms private sector — n the private sector the industries and services in a country that are owned and run by private companies, and not by the government →↑public sector ▪ pay increases in the private sector …   Dictionary of contemporary English private sector — ➔ sector …   Financial and business terms private sector — n. The part of the economy not controlled by the government, in which private citizens work for their own profit. The Essential Law Dictionary. Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008 …   Law dictionary private sector — ► NOUN ▪ the part of the national economy not under direct state control …   English terms dictionary private sector — the area of the nation s economy under private rather than governmental control. Cf. public sector. [1950 55] * * * noun [singular] : the part of an economy which is not controlled or owned by the government The private sector is growing. private …   Useful english dictionary private sector — / praɪvət ˌsektə/ noun all companies which are owned by private shareholders, not by the state ● The expansion is completely funded by the private sector. ● Salaries in the private sector have increased faster than in the public sector. ▪▪▪ ‘…in… …   Marketing dictionary in english Private Sector — The part of the economy that is not state controlled, and is run by individuals and companies for profit. The private sector encompasses all for profit businesses that are not owned or operated by the government. Companies and corporations that… …   Investment dictionary private sector — N SING: the N, N n The private sector is the part of a country s economy which consists of industries and commercial companies that are not owned or controlled by the government. ...small firms in the private sector. ...the gap between the… …   English dictionary private sector — noun the private sector the industries and services in a country that are owned and run by private companies, and not by the state or government: pay increases in the private sector | private sector employers compare public sector …   Longman dictionary of contemporary English 18+ © Academic, 2000-2024 Contact us: Technical Support, Advertising Dictionaries export, created on PHP, Joomla, Drupal, WordPress, MODx. Mark and share Search through all dictionaries Translate… Search Internet Share the article and excerpts Direct link … Do a right-click on the link above and select “Copy Link”