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:
“No annual training or muster of soldiery, no celebration with its scarfs and banners, could import into the town a hundredth part of the annual splendor of our October. We have only to set the trees, or let them stand, and Nature will find the colored drapery,—flags of all her nations, some of whose private signals hardly the botanist can read,—while we walk under the triumphal arches of the elms.”
—Henry David Thoreau (1817–1862)