IGCSE, A Level Business Student Forum

[KN] Public sector are owned and controlled by the government while private sector are not owned by government.
[AN] In private sector goods and services are produces to fulfill consumers wants while public sector fulfills the needs.
[AN+] This leads towards higher profit for private sector and less profit to public sectors.
[KN] Public produces products that are necessary for consumers while private sector fulfills consumers desire.
[AN] This means consumers who want to fulfill their needs can go to public sectors while consumers who want to fulfill their wants can go to private sectors.
[AN+] This leads towards more choices for consumers in the market.

Q9 Differentiate between private & public sectors businesses. [6]

[KN]the public sector is owned and controlled by the business owners (along with the govt.), while the private sector is owned by individual or corporations
[AN]so while the govt. decides everything in the public sector, the private sector produces according to demand trends and available resources.
[AN+]therefore, the public sector has low chances of revenue due to low prices while high prices in the private sector makes them high profit

[KN]private sectors make decisions based on the demand trends, competition, and revenue/profit generation, while public sectors deal with government rules and other time consuming issues when making decisions
[AN]thus, private businesses are quicker in decision-making and respond to consumer demands swift and efficiently
[AN+]while on the other hand, public sectors usually aim to help the public and achieve eco growth in different methods rather than making money. this is time consuming as it consists a lot of paper work and needs to be thought over (as some decisions could come in conflict with other political decisions

Syed Mustafa Ali wrote: ↑Thu Oct 26, 2023 10:31 pm [KN] Private businesses are owned and operated by individuals, groups of individuals, or corporations. While Public businesses, also known as government-owned or state-owned enterprises, are owned and operated by the government or a public authority.
[AN] Private businesses aim to generate profits for their owners or shareholders.
[AN+] Public businesses typically serve public interests rather than seeking profits.
[KN] Private businesses make decisions based on market forces, competition, and the pursuit of profit while Public businesses are subject to government regulations, bureaucracy, and political considerations.
[AN] In private businesses decision-making is often more agile and driven by market demand.
[AN+] In public businesses they typically serve public interests rather than seeking profits.

[AN] is stating one side, [AN+] is stating another side, where as in difference based questions both sides are covered in one [AN] and impacts of both sides are given in [AN+]

[KN] Private businesses are owned and operated by individuals groups of individuals etc while Public businesses also known as state-owned enterprises are owned and operated by the government
[AN] Private businesses aim to generate profits for their owners
[AN+] Public businesses typically serve public interests rather than seeking profits
[KN] Private businesses make decisions based on market forces, competition, and the pursuit of profit while Public businesses are subject to government regulations
[AN] In private businesses decision-making is often more agile and driven by market demand.
[AN+] thus they are simply providing services and there main aim is not profit

[KN] Private sector produces goods and services which have high demand and public sector provides goods and services that are beneficial for the economy.
[AN] which means private sectors main is to make profits.
[AN+] Thus the sales of goods and services in private sector is higher then that of the public sector.

[KN] Private firms are owned and controlled by the businesses that are privately registered whereas public firms are owned and controlled by the government.
[AN] in Private sectors goods are produced according to the consumers preferences whereas in public sector the government decides everything.
[AN+] in private sector they make higher profits but in public sector business there are less chances of revenue

[KN] Private sector is owned by individuals and public sector is owned and controlled by the government.
[AN] The main aim of private sector businesses is to make profit. Whereas the main aim for public sector businesses is to provide services to the general public.
[AN+]Thus the prices of goods and services in private sector would be higher then that goods and services of the public sector

[KN] Private sector produces goods and services which have high demand and public sector provides goods and services that are beneficial for the economy.
[AN] which means private sectors main is to make profits.
[AN+] Thus the sales of goods and services in private sector is higher then that of the public sector.