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The Private and Public Sectors

The Private and Public Sectors. BBI2O. The Private Sector. Businesses are individually owned and operated The primary purpose of most private sector businesses is to make a profit. The Private Sector. Pros Usually more efficient Profit motive and competition drive innovation Cons

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The Private and Public Sectors

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  1. The Private and Public Sectors BBI2O

  2. The Private Sector • Businesses are individually owned and operated • The primary purpose of most private sector businesses is to make a profit

  3. The Private Sector • Pros • Usually more efficient • Profit motive and competition drive innovation • Cons • May be more concerned with profit than with providing high quality service at an affordable rate

  4. The Public Sector • Operated by government • Federal • Provincial • Municipal • Purpose is to provide a service to the public • Ex: Schools, hospitals, public utilities

  5. The Public Sector • Pros • Purpose is first and foremost to service public need • Services are more affordable • Cons • Slow, inefficient • Public sector budgetary process may actually provide incentives to spend more money than necessary • May create artificially low prices (education, electricity)

  6. Crown Corporations • CBC • NFB • Petro-Canada* • VIA Rail • Hydro One • Canada Post • National Arts Centre

  7. Public-private partnerships • Attempts to combine best features of each • The resources and logistics from a project may be too big for one sector to handle • Olympic Village • Confederation Bridge

  8. Questions • In our community… • What services are provided by the private sector? • What services are provided by the public sector?

  9. Privatization • When a publicly owned business or industry is sold to the private sector • Saves gov’t money • Private sector may be better suited • The government may stop providing the service and let the private sector fill the gap • Or the government may sell their assets to a private buyer

  10. Privatization • Read article on p. 68-69 • Summarize the arguments for and against privatization

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