PRIVATE AND PUBLIC SECTOR

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  • Created by: Lizelledp
  • Created on: 06-04-21 10:07
What is the private sector ?
Consists of businesses owned and
controlled by individuals or groups
of individuals.
1 of 8
What is the public sector ?
Consists of organisations owned
by accountable to and controlled
by the State
2 of 8
Name the advantages of
Public Sector businesses?
1) provision of important goods
and services at reasonable prices
2) provision of employment to
the majority
3) Implementing government policies
e.g charge low prices to reduce
inflation
4) They are a source of income
to the government
3 of 8
Name the disadvantages
of the Public sector businesses?
1) Are inefficient and very wasteful
due to the lack of profit motive
2) they tend to provide poor quality
goods and services due to the
absence of stiff competition
3) The lack of motivation among
workers leads to inefficiency
4 of 8
What does Privatisation of a
Public sector business means?
When state-owned assets are
transfered to the private sector
by the government.
5 of 8
What does Nationalisation of a
Private Sector business means?
When private-owned assets are
transfered into the public sector
by the Government.
6 of 8
Businesses that are in the private
sector
1) Sole Traders
2) Partnerships
3) Private limited companies
4) Public limited companies
5) Co-operative
7 of 8
Businesses that are in the
Public Sector
1) Transport systems
2) Library's
3) Municipality's
5) Public swimming pools
8 of 8

Other cards in this set

Card 2

Front

What is the public sector ?

Back

Consists of organisations owned
by accountable to and controlled
by the State

Card 3

Front

Name the advantages of
Public Sector businesses?

Back

Preview of the front of card 3

Card 4

Front

Name the disadvantages
of the Public sector businesses?

Back

Preview of the front of card 4

Card 5

Front

What does Privatisation of a
Public sector business means?

Back

Preview of the front of card 5
View more cards

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