Eraisikuvärgalises

Eraisikuvärgalises is an Estonian term that translates to "private sector" or "private domain." It refers to the part of the economy and society that is not controlled or operated by the state or government. This includes businesses, non-profit organizations, and individuals engaged in economic activities for private gain or collective benefit outside of direct government control.

The private sector is characterized by private ownership of the means of production, free enterprise, and the pursuit of profit. It plays a crucial role in most economies by providing goods and services, creating employment opportunities, fostering innovation, and contributing to economic growth. Examples of entities within the eraisikuvärgalises include sole proprietorships, partnerships, corporations, and various forms of associations.

In contrast to the public sector, which is managed and funded by the government, the eraisikuvärgalises operates on market principles, responding to supply and demand. While the state typically sets the regulatory framework and may intervene in certain areas to ensure fair competition, public safety, or social welfare, the day-to-day operations and decision-making are largely autonomous within the private sphere. The dynamic interaction between the eraisikuvärgalises and the public sector is a fundamental aspect of modern economic systems.