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Difference Between Private Sector and Public Sector

Private Sector: 
It can be described as all the business organizations owned and run by private individuals. They are aimed at maximizing profit. Private Sector comprise of Sole Traders, Partnership firms, Co-operatives, Limited Companies etc.

Public Sector: 
It can be described as that part of the economy concerned with the economic activities and transactions of the government. It is aimed at maximizing general welfare.

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