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Private and Public Sector

Private and Public Sector. Private Goods and Services Goods and service produced in free market economy Have clear owners and are not available to everyone

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Page 1: Private and Public Sector. Private Goods and Services Goods and service produced in free market economy Have clear owners and are not available to everyone

Private and Public Sector

Page 2: Private and Public Sector. Private Goods and Services Goods and service produced in free market economy Have clear owners and are not available to everyone

Private Goods and Services

Goods and service produced in free market economy

Have clear owners and are not available to everyone

Goods and services are limited to one owner, no one else can have it

Example: food items, taxi,

Page 3: Private and Public Sector. Private Goods and Services Goods and service produced in free market economy Have clear owners and are not available to everyone

Public Good and Services

Provided by governmentAvailable to everyoneMeet the needs and wants of society

instead of individualsExample: highway, police protection,

public education, public libraries

Page 4: Private and Public Sector. Private Goods and Services Goods and service produced in free market economy Have clear owners and are not available to everyone

Private and Public Sectors

Service Public Private Advantage DisadvantagesAlternate Service

City Bus X Low Cost

Waiting Time, seat

availability, follow bus

route

Taxi service

Parish School

5-star Hotel


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