Question

Differentiate between the public and and private sectors with examples?

Answer 1

PUBLIC SECTOR-

1.public sectors are sectors or industries established by government and controlled by government.

2. it doesn't work for the profit .

3.example, state bank of India, etc.

PRIVATE SECTOR -

1. It is not handled by government

2.it only works for profit.

3. example- reliance , etc.

Answer 2

Answer:

PUBLIC SECTOR –

• On the basis of assets and resources,in public sector the government owns all the assets and resources, nevertheless it provides all the services.
• On the basis of motive, They provide services but government also raised access to meet expenses.
• Also, they provide subsidies and many facilities.
• Activities then include making roads, bridges, etc. which are mostly done by private sector people hired by the government.
• There many other activities which are only done by people engaged in public jobs.
• Examples include railways or post office.

PRIVATE SECTOR –

• On the basis of assets and resources owned, in private sector, private individuals or certain companies own it.
• They are guided by the motive to earn profits.
• They do not provide subsidies.
• They even don't provide certain facilities.
• These include running a factory, etc.
• Some other examples may include tisco or Reliance.