Sectors of the Economy

Question 1

Describe the Private sector of the UK economy, using examples to support your answer.

Answer 1

Private sector organisations are owned and controlled by private individuals. Their primary aims are to survive and make a profit.

sole trader
partnership
private limited company

Question 2

Describe the Public sector of the UK economy, using examples to support your answer.

Answer 2

Public sector organisations are owned and controlled by the government. They aim to provide a service to the public and are funded by taxes.

National Health Service
education and schools
local government

Question 3

Describe the Third sector of the UK economy, using examples to support your answer.

Answer 3

Third sector organisations are set up to help a cause or provide a service to members. They aim to raise money and increase awareness for good causes.

charities
voluntary organisations
social enterprises