ECONOMICS
ECONOMIC GROWTH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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private sector and public sector
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banking regulations and competition
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government control and tariffs
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cultural biases and trade barriers
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Detailed explanation-1: -The private sector consists of business enterprises owned by individuals or a group of individuals. The various forms of organisation are sole proprietorship, partnership, joint Hindu family, co-operative and company. The public sector consists of business enterprises owned and managed by the government.
Detailed explanation-2: -The main difference between public and private sector is that public sectors are owned, controlled, and managed by the government. In contrast, private sectors are owned, controlled, and managed by individuals, groups, or business entities.
Detailed explanation-3: -Types of Private Sector Businesses Sole proprietorships. Partnerships.
Detailed explanation-4: -The industrial sectors are classified into public and private sectors on the basis of ownership of enterprises. Public sectors refers to government owned organisations and private sectors are not government owned.
Detailed explanation-5: -Departmental undertakings. Public corporations/statutory corporations. Government company.