- published: 23 Jul 2015
- views: 23776
In economics, the private sector is that part of the economy, sometimes referred to as the citizen sector, which is run by private individuals or groups, usually as a means of enterprise for profit, and is not controlled by the state. By contrast, enterprises that are part of the state are part of the public sector; private, non-profit organizations are regarded as part of the voluntary sector.
The private sector employs the majority of the workforce in some countries.[citation needed] However, in some countries such as the People's Republic of China, the public sector employs most of the workers.
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