Search results
Results from the WOW.Com Content Network
Private property is foundational to capitalism, an economic system based on the private ownership of the means of production and their operation for profit. [4] As a legal concept, private property is defined and enforced by a country's political system .
Private property access, use, exclusion and management are controlled by the private owner or a group of legal owners. [9] This is sometimes used interchangeably with private good. [17] An example would be a cellphone as it only one person may use it, making it rivalrous, and it has to be purchased, which makes it excludable.
Private enterprises comprise the private sector of an economy. An economic system that 1) contains a large private sector where privately run businesses are the backbone of the economy, and 2) a business surplus is controlled by the owners, is referred to as capitalism .
The private sector is the part of the economy which is owned by private groups, usually as a means of establishment for profit or non profit, rather than being owned by the government. Employment [ edit ]
In economic theory, privatization has been studied in the field of contract theory. When contracts are complete, institutions such as (private or public) property are difficult to explain, since every desired incentive structure can be achieved with sufficiently complex contractual arrangements, regardless of the institutional structure.
Private sector development (PSD) is a term in the international development industry to refer to a range of strategies for promoting economic growth and reducing poverty in developing countries by building private enterprises. This could be through working with firms directly, with membership organisations to represent them, or through a range ...
Get AOL Mail for FREE! Manage your email like never before with travel, photo & document views. Personalize your inbox with themes & tabs. You've Got Mail!
Private office: an enclosed workspace for one person; suitable for activities that are confidential, demand a lot of concentration, or include many small meetings. Shared office : a compact, semi-private workspace designed for two or three individuals, facilitating both focused work and small group collaboration.