Final answer:
The public sector is government-controlled, the private sector consists of privately owned businesses, and economic growth is the improvement in a country's production and living standards.
Explanation:
Public sector refers to the part of the economy controlled by the government, while the private sector comprises privately owned businesses. Economic growth is the increase in a country's production of goods and services over time, leading to rising incomes and improved living standards. The public and private sectors are interdependent, with each playing a crucial role in driving economic development through investments, infrastructure, and policies.
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