What sector do voluntary or community groups belong to?

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Prepare for the T-Level Finance 1.2 Test. Utilize flashcards and multiple-choice questions, each with hints and explanations to aid your understanding. Ensure you're ready for success!

Voluntary or community groups are classified under the third sector, which encompasses organizations that are not driven by profit but rather serve social, cultural, or community purposes. This sector includes a wide range of initiatives such as charities, non-profits, and social enterprises, which rely on donations, grants, and volunteers to operate. Unlike the private sector, which focuses on profit-making and includes businesses and corporations, or the public sector that consists of government entities and public services, the third sector is characterized by its commitment to community benefit and social good. This classification highlights the unique role that these groups play in addressing societal issues and supporting public welfare without the primary goal of making profits.

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