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:
“When I think of the gold-diggers and the Mormons, the slaves and the slave-holders and the flibustiers, I naturally dream of a glorious private life. No, I am not patriotic.”
—Henry David Thoreau (1817–1862)