Differentiate between sectors on the basis of ownership with example...
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In the ownership resources we can conclude in the formation of following-
a) Individual resources- These are owned privately by individuals. many farmers have their own land which is alloted by government against the payment of revenue. urban people own plots,houses and other property are e.g.
b) community own resources- These are resources which are accessible to all the members of community.e.g.-publi parks, picnic spots,etc.
c)national resources- technically, all the rresources belong to the nation. the country has legal power to ecquire even private property for public good.e.g.- roass,canals, railways.etc.
d) international resources- there are international institutions which regulate some resources. the oceanic resources beyond 200 nautical miles of the exclusive economic zone belong to open ocean and no individual country can utilise these without the concurrence of international institutions.
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In the ownership resources we can conclude in the formation of following-
a) Individual resources- These are owned privately by individuals. many farmers have their own land which is alloted by government against the payment of revenue. urban people own plots,houses and other property are e.g.
b) community own resources- These are resources which are accessible to all the members of community.e.g.-publi parks, picnic spots,etc.
c)national resources- technically, all the rresources belong to the nation. the country has legal power to ecquire even private property for public good.e.g.- roass,canals, railways.etc.
d) international resources- there are international institutions which regulate some resources. the oceanic resources beyond 200 nautical miles of the exclusive economic zone belong to open ocean and no individual country can utilise these without the concurrence of international institutions.
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1)Public sector:
In the public sector, government owns most of the assets and provides all the services. Railways or post office is an example of the public sector. The purpose of the public sector is not to just earn profits. Governments raise money through taxes and other ways to meet expenses on the services render on it. Modern day government spend on a whole ranges of activities.
2)Private sectors:
In the private sector, ownership of assets and delivery of services is in the hands of private individuals or companies. Companies like Techclyde Services Private limited or Reliance Industries Limited are privately owned. Activities in the private sector are guided by the motuve of earn profits. To get such services we have to pay money to these individuals and companies.
In the public sector, government owns most of the assets and provides all the services. Railways or post office is an example of the public sector. The purpose of the public sector is not to just earn profits. Governments raise money through taxes and other ways to meet expenses on the services render on it. Modern day government spend on a whole ranges of activities.
2)Private sectors:
In the private sector, ownership of assets and delivery of services is in the hands of private individuals or companies. Companies like Techclyde Services Private limited or Reliance Industries Limited are privately owned. Activities in the private sector are guided by the motuve of earn profits. To get such services we have to pay money to these individuals and companies.
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