Question

1. State the classification of the Indian Economy under the Public and Private Sector.

Answer 1

Answer:

1:Public sector refers to government-owned organizations and government provided services.

2:Private sector refers to organizations which are not government-owned and ownership of assets and delivery of services is in the hands of private individuals or companies.

3:Public services include public goods and services like roads, water supply, transport, health, military etc. Public enterprises are state-owned that are under public ownership

Answer 2

Answer:

1) public sector refers to government owned organisations and government provided services.

2) private sector refers to organisations which are not government owned and ownership of assets and delivery of services is in the hands of private individuals are are companies.

3) public services include public goods and services like roads, water supply, transport, health, military, etc. Public enterprises are state-owned that are under public ownership.

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