Question

Distinguish between private sector units and public sector production units.

Answer 1

If we talk about Private Sector, it is owned and managed by the private individuals and corporations. The aim of the public sector is to serve people, but private sector enterprises are established with the profit motive. In the public sector, the government has full control over the organisations.

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.