Sectors of the Economy

Question 1

Name the 3 Sectors of Economy

Answer 1

Private Sector, Public Sector and Third Sector

Question 2

Private Sector

Answer 2

This consists of businesses that aim primarily to maximise profits and includes all profit-making businesses ranging from your local high-street bakery to huge multinational companies such as Ford.

Question 3

Public Sector

Answer 3

This consists of government owned organisations and agencies which aim to provide a service to society. This includes NHS, police and state education.

Question 4

Third Sector

Answer 4

This consists of organisations that are set up to provide goods and services to benefit others. This sector includes charities, voluntary groups, social enterprises democratic.