EX
SHORT ANSWER QUESTIONS
1. What is a private sector enterprise?
2. Define joint sector.
3. What is a public sector enterprise?
4. What is mixed ownership?
5. What is meant by state ownership?
6. What is public accountability? Remember this questions is of commerce
Answers
Explanation:
1.The private sector is the part of the economy that is run by individuals and companies for profit and is not state controlled. Therefore, it encompasses all for-profit businesses that are not owned or operated by the government.
2.The term 'joint sector' is applied to an undertaking only when both its ownership and control are effectively shared between public sector agencies and a private group.
3.A state-owned enterprise in India is called a public sector undertaking or a public sector enterprise. Those companies are owned by the union government of India or one of the many state or territorial governments or both.
4.Mixed-ownership reform involves private ownership of SOEs to increase price consciousness and efficiency. This allows greater say and corporate oversight from the private sector and provides the impetus to cut the fat from SOEs and increase their competitiveness
5.State ownership, also called government ownership and public ownership, is the ownership of an industry, asset, or enterprise by the state or a public body representing a community as opposed to an individual or private party
6.Obligations of public enterprises and agencies (who are entrusted with public resources) to be answerable for fiscal and social responsibilities, to those who have assigned such responsibilities to them.
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