In the United States, most of the goods and services we purchase are produced by companies in the portion of the economy that is not under government control, otherwise known as:
In the United States, the portion of the economy that is not under government control and comprises the production of goods and services by companies is known as the private sector.
The portion of the economy that is not under government control is known as the private sector. The private sector consists of businesses and organizations that are owned and operated by individuals or groups of individuals, rather than the government. These businesses can be small enterprises or large corporations and they produce a wide variety of goods and services that are purchased by individuals, other businesses, and even the government itself. In contrast, the public sector refers to parts of the economy that are owned and operated by the government, such as public schools, police departments, and government-run healthcare facilities.
