Question

Citing reason state the advantage of private sector over public sector. 

Answer 1

1. The private sector's key advantage over the public sector is its efficiency and innovation.
2. Profit influences the private sector, encouraging businesses to be more efficient, cut expenses, and increase productivity.
3. The presence of competition in the private sector encourages innovation as companies attempt to differentiate themselves, produce new products, improve services, and accept cutting-edge technologies.
4. For example, private technology businesses such as Apple and Google always develop and offer new products in response to competition and economic motivations.