Question

Distinguish between public sector industry and private sector industry

Answer 1

Explanation:

The following are the major differences between public sector and private sector: Public Sector is a part of the country's economy where the control and maintenance are in the hands of Government. ... The aim of the public sector is to serve people, but private sector enterprises are established with the profit motive.

Answer 2

Explanation:

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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.