1. Private and Public Sector

2. Private Goods and Services
Goods and service produced in free market economy
Have clear owners and are not available to everyone
Goods and services are limited to one owner, no one else can have it
Example: food items, taxi,

3. Public Good and Services
Provided by government
Available to everyone
Meet the needs and wants of society instead of individuals
Example: highway, police protection, public education, public libraries

4. Private and Public Sectors
Service
Public
Private
Advantage
Disadvantages
Alternate Service
City Bus X
Low Cost
Waiting Time, seat availability, follow bus route
Taxi service
Parish School
5-star Hotel