SSC
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Private properties
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private companies
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Government
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State
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Detailed explanation-1: -In the private sector, ownership of assets and delivery of services is in the hands of private individuals or companies.
Detailed explanation-2: -Based on ownership, industries can be classified as public sector, private sector, or joint sector. Public industries are owned and run by the government, whereas private industries are run and owned by private enterprises. Joint sectors are run as a collaboration between the government and private parties.
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: -In the public sector, the government owns most of the assets and assumes responsibility for the delivery of services. In the private sector, the ownership of assets and the delivery of services rest with private entities.