GK
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Employment conditions
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Ownership of enterprises
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The nature of the economic activity
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Number of workers employed in the enterprise
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Detailed explanation-1: -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-2: -On the basis of ownership the sectors are public and private.
Detailed explanation-3: -Public sector organisations are owned, controlled and managed by the government or other state-run bodies. Private sector organisations are owned, controlled and managed by individuals, groups or business entities.
Detailed explanation-4: -The private sector is the part of the economy that is run by individuals and companies for profit and is not state controlled. Therefore, it encompasses all for-profit businesses that are not owned or operated by the government.