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.
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Famous quotes containing the word private:
“We are sure that, though we know not how, necessity does comport with liberty, the individual with the world, my polarity with the spirit of the times. The riddle of the age has for each a private solution.”
—Ralph Waldo Emerson (1803–1882)