Which part of the economy is controlled by private individuals and firms, including households and companies?

• A. Public Sector
• B. Private Sector
• C. E-commerce
• D. Debit Card

Answer: (B)

The private sector. This part of the economy is owned and controlled by private individuals and firms, including households and companies, rather than by the government. Private actors decide what to produce, how to produce, and for whom, driven by profit and market forces. The public sector is government-controlled, funded by taxes, and responsible for public services. E-commerce is simply a way of doing business online, not a separate sector, and a debit card is a payment instrument, not a sector.