Differentiate between public sector and private sector
Answers
public sector:-
1.It is managed and controled by government.
2.it motive is to promote wellfare of the people.
3.it services are supplied to people at cheaper or afordable rate.
4.eg.
railways,post office
private sector:-
1.it is controled and managed by individuals or group of individuals.
2.it motive is to make its own profit.
3.it services are supplied to people at higher rate.
4.eg
TISCO and reliance
Public sector :-
The aim of public sector is to increase the facilities for public welfare.
The government owns most of the assets and provides all the services.
The decisions regarding production and distribution are taken by the government of the country.
Public sector provides basic facilities like education, health, food and security to the people.
Example :- Indian Railways and the post office etc.
Private Sector :-
The aim of Private sector is to earn maximum profits.
The ownership of assets and delivery of services is the hands of private individuals or companies.
The decisions regarding production and distribution are taken by owners or the manager of the country.
Private sector provides consumer goods to the people.
Example :- Reliance Industries Limited and Amul