Public And Private Sectors Flashcards
(25 cards)
What is the primary goal of the private sector?
To generate profit for its owners and shareholders.
True or False: The public sector is funded primarily through taxation.
True
Fill in the blank: The private sector includes _____ businesses.
for-profit
What is a key characteristic of the public sector?
It provides services to the public and is funded by taxpayer money.
Which sector typically has more regulatory oversight?
Public sector
Multiple Choice: Which of the following is an example of a public sector entity? A) A private hospital B) A public school C) A tech startup
B) A public school
What is the main difference between private and public sector employment?
Private sector jobs focus on profit, while public sector jobs focus on public service.
True or False: The private sector can include non-profit organizations.
True
Fill in the blank: The private sector is driven by _____ competition.
market
What is the role of government in the public sector?
To provide services, regulate industries, and ensure public welfare.
Multiple Choice: Which of the following is NOT a function of the public sector? A) Infrastructure development B) Profit generation C) Public health services
B) Profit generation
What are public goods?
Goods that are non-excludable and non-rivalrous, provided by the public sector.
True or False: Private sector companies can operate without any government regulation.
False
Fill in the blank: The public sector is essential for providing _____ that benefit society as a whole.
public services
What is one advantage of the private sector over the public sector?
Greater efficiency and innovation due to competition.
Multiple Choice: Which entity is typically responsible for setting regulations for the private sector? A) Local government B) Federal government C) Both A and B
C) Both A and B
What is the main focus of government policies in the public sector?
To ensure equity and access to essential services.
True or False: The private sector has less accountability than the public sector.
True
Fill in the blank: The _____ sector often relies on sales revenue for funding.
private
What is a major challenge faced by the public sector?
Budget constraints and resource allocation.
Multiple Choice: Which of the following is a common type of private sector business? A) Government agency B) Non-profit organization C) Corporation
C) Corporation
What is the significance of public-private partnerships?
They leverage resources and expertise from both sectors to achieve common goals.
True or False: The private sector is solely focused on maximizing shareholder value.
False
Fill in the blank: The _____ sector plays a crucial role in economic development and job creation.
private
