a) Outline two (2) differences between private and public enterprises.
b) Identify four (4) reasons why the government of Ghana should promote private enterprises.
Answer (2)
Private enterprises are privately owned and focused on profit, while public enterprises are government-owned and aim to serve the public interest. The Ghanaian government should support private enterprises for job creation, economic growth, innovation, and attracting foreign investment. This support is crucial for enhancing the country's overall economic development.
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Private and public enterprises differ in ownership and purpose, with private businesses focusing on profit while public entities emphasize service. The government of Ghana should promote private enterprises for job creation, economic growth, innovation, and to attract foreign investment. Overall, fostering private enterprises is vital for the nation’s economic development. ;
