Question

Compare the economic activities of the private sector with that of the public sector.

Answer 1

Answer

Comparison of economic activities in Private sector and Public sector economic activities:

⭃ Most of the assets of public sector are owned by the government while private sector is owned by individuals or group of individuals.

⭃ Govt. provides all services in public sector while in private sector it depends on private owner.

⭃ Govt. raises money for various activities through taxes while private sector collects money for the services they provide.

⭃ Activities in the private sector are guided by the motive to earn profits while public sector is not just to earn profits.

⭃ Railways, Post office are examples of public sector while Tata Steel and Reliance are example of private sector.

Answer 2

$\huge\underline{\sf{Answer-}}$

Firstly, you should know what is a public sector and a private sector.

Public sector : The sector that provides a range of different types of services held by the government.

private sector : The sector that provides a range of different types of services held by the private owner of the company.

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Comparison :

$\begin{tabular}{c|1}Public\:sector & Private\:sector\\ \cline{1-2}1)\:It\:is\:owned\:by\:government.&1)\:It\:is\:owned\:by\:individuals.\\ \cline{1-2}2)\:They\:don't\:have\:any\:aim\:to\:earn\:profits.&2)\:Their\:aim\:is\:to\:earn\:profits.\\ \cline{1-2}3).\:Their\:aim\:is\:to\:serve\:the\:people. & 3).\:They\:don't\:have\:any\:aim\:to\:serve\:people.\\ \cline{1-2}4).They\:raised\:their\:money\:by\:collecting\:loans.&4).They\:raised\:their\:money\:by\:taking\:loans.\\ \cline{1-2}Example-Army,\:manufacturing&Example-IT\:sectors\:(Information\:technology)\end{tabular}$

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