Expert answer:write 8 pages about the differences between privet
Solved by verified expert:Could you please write 8 pages about the differences between privet sector and government sectorwhich include 5 pages for analysis and 3 pages about recommendation, summary and conclusion Or something around thatAlso, I already provided the introduction page as attached
privet_vs_government_sector.doc
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Running head: DIFFERENCES BETWEEN GOVERNMENT AND PRIVATE SECTOR
1
Differences between Government and Private Sector
Gone are the days, when the economy of a country was dependent on the Public sectors.
Privatization policy has seen many people open, manage and control businesses without any
interference from the government (Carvalho, 2014). This move had brought tremendous progress
and development in the country unlike before when it depended on one sector. Just like the
government sectors, private sectors offer employment to the citizens and boost the economy
through payment of taxes. Private sectors are owned by individual citizens of a country and
foreign investors. While the Public sector and the private sector may seem to operate in the same
manner, they differ in many different ways.
The public sector is the section of a country’s economy under the control of either
Central State or local government and comprises of many business enterprises (Carvalho, 2014).
These business operations are partly owned or wholly owned by the government under separate
ministries. An act of parliament creates some sectors. Private sectors are that section of a
country’s economy that is owned, managed and controlled by individuals or Companies (Iossa, &
Martimort, 2015). While the private sectors work round the clock to maximize their profits.
Public sectors are non-profit organizations formed to serve the citizens. Private sectors raise
money for their operations through selling part of their shares or by securing loans from financial
institutions. On the other hand, public sectors raise money by collecting taxes, duty, and penalty
(Iossa, & Martimort, 2015). Those who work in private sectors can attest that they get good
salary package and work in a competitive environment. They also get incentives and promoted
by merit. The people who work in public sectors benefit from job security, allowances, and
retirement benefits. They are promoted by seniority and have a stable job, unlike the private
sector where one can lose their job anytime.
DIFFERENCES BETWEEN GOVERNMENT AND PRIVATE SECTOR
References
Carvalho, D. (2014). The Real Effects of Government‐Owned Banks: Evidence from an
Emerging Market. The Journal of Finance, 69(2), 577-609.
Iossa, E., & Martimort, D. (2015). The simple microeconomics of public‐private partnerships.
Journal of Public Economic Theory, 17(1), 4-48.
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