Public and Private Sectors (Grade 10 NSC Matric Business Studies): Flashcards
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Mixed economy
Mixed economy
System with both private & state-owned businesses
Public sector
Public sector
Business enterprises owned & managed by government
Private sector
Private sector
Business owned, financed & run by private individuals
Main goal of public sector
Main goal of public sector
Serve public interest, not make profit
Main goal of private sector
Main goal of private sector
Make profit for owners
Parastatal
Parastatal
State-owned company/enterprise (SOC/SOE)
Corporate Social Responsibility (CSR)
Corporate Social Responsibility (CSR)
Business taking responsibility for impact on society & environment
Public-private partnership (PPP)
Public-private partnership (PPP)
Contract: govt & private company provide service together
SA public sector examples
SA public sector examples
Eskom, Denel, SABC, SAA, Transnet
Who owns private sector?
Who owns private sector?
Private individuals (sole traders, partners, shareholders)