Public And Private Sectors Flashcards
What is the primary goal of the private sector?
To generate profit for its owners and shareholders.
True or False: The public sector is funded primarily through taxation.
True
Fill in the blank: The private sector includes _____ businesses.
for-profit
What is a key characteristic of the public sector?
It provides services to the public and is funded by taxpayer money.
Which sector typically has more regulatory oversight?
Public sector
Multiple Choice: Which of the following is an example of a public sector entity? A) A private hospital B) A public school C) A tech startup
B) A public school
What is the main difference between private and public sector employment?
Private sector jobs focus on profit, while public sector jobs focus on public service.
True or False: The private sector can include non-profit organizations.
True
Fill in the blank: The private sector is driven by _____ competition.
market
What is the role of government in the public sector?
To provide services, regulate industries, and ensure public welfare.
Multiple Choice: Which of the following is NOT a function of the public sector? A) Infrastructure development B) Profit generation C) Public health services
B) Profit generation
What are public goods?
Goods that are non-excludable and non-rivalrous, provided by the public sector.
True or False: Private sector companies can operate without any government regulation.
False
Fill in the blank: The public sector is essential for providing _____ that benefit society as a whole.
public services
What is one advantage of the private sector over the public sector?
Greater efficiency and innovation due to competition.
Multiple Choice: Which entity is typically responsible for setting regulations for the private sector? A) Local government B) Federal government C) Both A and B
C) Both A and B
What is the main focus of government policies in the public sector?
To ensure equity and access to essential services.
True or False: The private sector has less accountability than the public sector.
True
Fill in the blank: The _____ sector often relies on sales revenue for funding.
private
What is a major challenge faced by the public sector?
Budget constraints and resource allocation.
Multiple Choice: Which of the following is a common type of private sector business? A) Government agency B) Non-profit organization C) Corporation
C) Corporation
What is the significance of public-private partnerships?
They leverage resources and expertise from both sectors to achieve common goals.
True or False: The private sector is solely focused on maximizing shareholder value.
False
Fill in the blank: The _____ sector plays a crucial role in economic development and job creation.
private
What is the impact of privatization on public services?
It can lead to increased efficiency but may also reduce access to services for some populations.
