SSC
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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The nature of the economic activity
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Ownership of enterprises
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Number of workers employed in the enterprise
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Detailed explanation-1: -The correct answer is Ownership of enterprises. Public and private sector: The industrial sectors are classified into public and private sectors on the basis of ownership of enterprises.
Detailed explanation-2: -Public sector companies are owned by the government like BHEL, SAIL, etc. Private sector companies are owned by individuals or private groups like Infosys, Wipro, etc. Joint sector companies are owned by both private players and the government. Hence, they are also called public-private partnerships.
Detailed explanation-3: -Based on the conditions of work, rules and regulations, economic activities are classified into organised and unorganised sectors.
Detailed explanation-4: -The public sector in many countries is organized at three levels: Federal or National, Regional (State or Provincial), and Local (Municipal or County).