PUBLIC SECTOR- Is the part of the economy owned and controlled by the government. E.g. Healthcare, postal services, electricity network
PRIVATE SECTOR- Is the part of the economy owned and controlled by private individuals. Any privately owned business is in the private sector. E.g. Restaurants, Electronic shops and your local supermarkets.
MIXED ECONOMY- Describes a country with economic activity in both the public and private sectors. Nearly all countries have a mixed economy.
