Business enterprises in the private and public sectors:
a. Market economy: It is an economic system in which the decisions are taken by the
individuals and businesses.
b. Command Economy/Planned economy: It is an economic system where government
determines what to produce, how much to produce and at what price.
c. Mixed economy: Resources are owned and controlled by both the private and public
sectors.
Public Sector businesses
These organisations are owned and run by local or national government.
Industries under government ownership:
 health
 education
 defense
 public transport
 water & electricity
Private sector business: These organisations are owned and run by individuals and
companies.
Mixed economy
Private sector
Sole Trader
Partnerships
Limited
companies
Public Sector
Franchises,
Joint venture,
Social
enterprise
Government
Departments
Public
corporation
Nationalised
Industries