GK
BUSINESS MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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2-30 people
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Government
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Inviduals
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A company
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Detailed explanation-1: -The private sector is the part of the economy that is run by individuals and companies for profit and is not state controlled. Therefore, it encompasses all for-profit businesses that are not owned or operated by the government.
Detailed explanation-2: -Private sector organizations are owned by individuals or private companies. Organizations in the public sector are owned by the public and managed by the government.
Detailed explanation-3: -Private Sector consists of business owned by individuals or a group of individuals.
Detailed explanation-4: -Private sector companies are companies which are not run by the government. They are the part of a country’s economic system and is run by individual and companies with the intention to earn the profit.
Detailed explanation-5: -The private sector refers to the part of the economy that isn’t controlled by the state. It includes any for-profit businesses run by individuals or companies. Businesses controlled by the government are part of the public sector, while charities or other non-profits are part of the voluntary sector.