Question

Distinguish between private and public sector enterprise

Answer 1

Public sector refers to government-owned organizations and government-provided services. Private sector refers to 1) organizations that are not government owned, and 2) the goods and services provided by organizations outside of the government. For example, companies owned by individuals are part of the private sector.

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Answer 2

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☆Public sector☆

1.It is controlled and managed by the government.

2.The main aim of the sector is public welfare.

3.The sector provides basic facilities like education, health, food and security to the people. For Example: Railways, Post office, BSNL.

☆Private sector☆

1.It is controlled and managed by an individual or a group.

2.The main aim of the sector is to earn profits.

3.Private sector does not provide any service at a reasonable rate. For example: Tatas, Birlas, Reliance.