What is Private Commerce and what is Public Commerce?
Feb 05, 2023Private commerce refers to commercial transactions or business dealings that occur between individuals or private organizations and are not subject to government regulation or control. Examples of private commerce include transactions between individuals such as buying and selling goods and services or between private companies such as mergers and acquisitions.
Public commerce, on the other hand, refers to commercial transactions or business dealings that occur between the government and private individuals or organizations and are subject to government regulation and control. Examples of public commerce include procurement by the government for goods and services, government contracts for construction projects, or the sale of government-owned assets.
Other Examples of private commerce include:
- Retail sales of goods and services between individuals and businesses
- Online commerce through platforms like Amazon and eBay
- Wholesale trade between businesses
- Service industries such as consulting, finance, and legal services
- Mergers and acquisitions between private companies
- Agricultural and industrial production for private consumption or sale
- Sale of real estate and personal property between individuals
These transactions are conducted between private individuals or organizations and are not subject to government regulation or control.
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