Question

Distinguish between public sector and private sector enterprises (any three points

Answer 1

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Difference between public and private sector

1.In Public sector , govt. owns most of the assets and provides all the services.
2.Railways,post office,airport,etc. are examples of public sector.
3.The purpose of public sector is not just to earn profits.

PRIVATE SECTOR
1.In Private sector, the ownership of assets and delivery of services is in the hands of private individuals or companies .
2.Companies like TISCO,Reliance Industries Limited, dabur,etc. are privately owned .
3. the motive of private sector is to earn profits.


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Answer 2

Gone are the days, when only the Public Sector was prevalent in the economy. At present, many countries have adopted the policy of Privatisation, through which Private Sector is also gaining importance. For the progress and development of any country, both the sectors must go hand in hand as only one sector cannot lead the country in the path of success. The private sector comprises of business which is owned, managed and controlled by individuals.

On the contrary, public sector comprises of various business enterprises owned and managed by Government. Such organizations are either fully or partly owned by the center or state and come under the separate ministry. Some of the public sector organizations are set up by a special act of Parliament.

A cut-throat competition between both the sectors, to prove itself better over the other sector. So, the article attempts to outline the differences between public sector and the private sector in tabular form.