Which term describes a business owned and run by private individuals?

Which term describes a business owned and run by private individuals?

• A. Sole Trader
• B. Public Sector
• C. Enterprise
• D. Private Sector

Answer: (D)

Ownership and control by private individuals signals the private sector. A business in the private sector is not owned by the government and can include various forms like sole traders, partnerships, or private companies. A sole trader is just one specific way a private individual might run a business, not the whole category described by the phrase. The public sector, by contrast, is government-owned, and enterprise is a general term for a business venture rather than a description of who owns it. So the term that best fits a business owned and run by private individuals is Private Sector.

Ownership and control by private individuals signals the private sector. A business in the private sector is not owned by the government and can include various forms like sole traders, partnerships, or private companies. A sole trader is just one specific way a private individual might run a business, not the whole category described by the phrase. The public sector, by contrast, is government-owned, and enterprise is a general term for a business venture rather than a description of who owns it. So the term that best fits a business owned and run by private individuals is Private Sector.