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Distinguish between public sector and private sector. |
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Answer» In public sector,the government owns most of the assets and provides all the services.Example:railways,post office.The purpose of public sector is not just to earn profits.Governments raise money through taxesand other ways to meet expenses on the services rendered by it.In private sector ,ownership of assets and delivery of services is in the hands of private individuals or companies.Example:Tata Iron and Steel Company Limited,Reliance Industries Limited.Activities in the private sector are guided by the motive to earn profits. Public sector is owned by the govt. Private sector is owned by individual or group of individuals.Public sector invest on welfare of the peoplePrivate sector invest on high profit margins. Hi |
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