STEPS TO WRITE ESSAY 💡MAIN POINTS💡OVERVIEW

I. Introduction
- Definition of private and public sectors
- Importance of resource allocation in the economy

II. Private Sector
- Explanation of the price mechanism
- Advantages of private sector resource allocation
- Examples of successful private sector resource allocation

III. Public Sector
- Explanation of government decision-making
- Advantages of public sector resource allocation
- Examples of successful public sector resource allocation

IV. Comparison of Private and Public Sectors
- Differences in resource allocation methods
- Advantages and disadvantages of each sector
- Examples of situations where one sector may be more effective than the other

V. Conclusion
- Summary of key points
- Importance of balancing private and public sector resource allocation in the economy.