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Answer -
Private Sector: The private sector comprises of businesses that are owned by one or a group of individuals. The sole purpose of a private sector enterprise is to earn profit. There are many types of organisations under private sector and they are:
1. Sole proprietorship
2. Partnership
3. Joint Hindu Family
4. Cooperative societies
5. Company (LLP, LLC)
Public Sector: The public sector comprises of organisations that are partly or wholly owned by government. The government may have a 51% controlling stake in the organisation. These types of organisations might have come into existence by some special act of the Parliament. By involvement with public sector, the government participates in the economic activities of the country.