22. Write the difference between public sector and private sector.
23. What do you mean by J.H. F. Business? Explain the types of
24. Difference between MOA and AOA.
25. Write the disadvantage of sole trade.
26. Write the arguments against profit maximization.
Answers
Answer:
1-( b), 2. (c) 3. (b) 4. (c) 5. (a)
Explanation:
Answers:
1. (b) 2. (c) 3. (b)
Question 1. Explain the concept of Public Sector and Private Sector.
Answer: Private sector consists of business owned by individuals or a group of individuals. Examples of private sector include sole proprietorship, partnership, Joint Hindu Family system, cooperative and company. On the other hand, the public sector consists of various organizations owned and managed by the government, owned either wholly or partly by the central or the state government. These may be part of a ministry or come into existence by a special act of the parliament.
Public sector works for social welfare while private sector works for profit motive.
Public sector organizations may take form of departmental undertaking, statutory corporation and a government company. Private sector may take form of sole proprietorship, partnership, Joint Hindu Family, company or a cooperative
Answer:
22) diffrence between public sector and private sectors are
public sector- *these industries are owned and managed by government bodies.
*public sector industries are for the welfare of communitv.
*ex- india Railway ,india Post
private sector- * these industries are owned and managed by the individual and group of companies.
*they prefer profit in their industries.
*ex- Reliance industries