Question

Differntiate between private and joint sector industries

Answer 1

Answer:

Private sector industry run by individual but joint sector is owned by both government and individual

Answer 2

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Private Sector:-

• The private sector is usually composed of organizations that are privately owned and not part of the government.

• This includes corporations (both profit and non-profit), partnerships, and charities.

• Private sector is by thinking of organizations that are not owned or operated by the government.

For example - retail stores, credit unions.

Joint Sector:-

• The joint sector would include units in which both public and private investments have taken place and where the state takes an active part in direction and control.

•Profit and social Obligation.

• Combination of Government and Private person .

•For example- Maruti Yog ltd.