private sector

noun

1. the area of the nation's economy under private rather than governmental control.

private sector

noun

1. the part of a country's economy that consists of privately owned enterprises Compare public sector

private sector

1. That part of an economy in which goods and services are produced by individuals and companies as opposed to the government, which controls the public sector.

Word History and Origins

Origin of private sector¹

First recorded in 1950–55