Question

differentiate between private sector, public sector and joint sector.



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Answer 1

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$\red{\bold{\underline{\underline{❥Question᎓}}}}$differentiate between private sector, public sector and joint sector.

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Public sector industries

1. These industries are owned and managed either by the Central government or the State government.

2. For eg. BHEL, SAIL, etc.

Joint sector industries

• These industries are owned, managed and controlled jointly by the private entrepreneur and the government.
• For eg. Oil India Ltd. (OIL).

Private sector

• private person are the owner himself
• accountability is of owner
• There is large production possibility in this sector because owner is individual and work for himself with great profit motive

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