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Question
Write the functions of private sector.
Answer in Brief
Solution
- The main function of the private sector is to create innovation and modernization.
- The profit motive drives them to invent, innovate new techniques of production, and manage the productive activities in a scientific manner.
- Develop and maintain infrastructure and services.
- Promote and expand existing businesses.
- Promote human capital development to help vulnerable groups especially to participate in the labour market and encourage community business and cooperation, local exchange system.
- Promote small, micro, and medium enterprises through supply-side measures and demand-side measures and attract investment in the city.
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Introduction of Public and Private Sector
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