Private and Public Sectors Flashcards
0
Q
Give examples of the private sector
A
Sole Trader Ltds and PLCs Co-operatives Franchises Charities Partnerships
1
Q
Define private sector
A
Business activity owned, financed and controlled by private individuals
2
Q
Give 4 objectives of the private sector
A
Profit Survival Share price Social issues Market power Sales Efficiency Quality and innovation Image Environment
3
Q
Define the public sector
A
Business activity owned, financed and controlled by the state through government or local authorities
4
Q
What do the government do in the public sector and give examples
A
Key departments set policy and monitor implementation, for example the NHS, armed forces and schools
5
Q
Give the 4 objectives of the public sector
A
Access
Affordability
Equality
Quality
6
Q
Give some examples of the range of business offered by the public sector
A
Paths and parks Cemeteries Schools Allotments Economic development and tourism
