Public sector enterprise is owned, managed and controlled by the ________. (Fill in the blank by choosing correct option)
a) Individuals
b) Government
c) Board of directors
Answers
Answer:
The correct option is b, i.e government.
Explanation:
There are mainly two sectors in an economy, private and public sector. Private individuals set up their businesses with the goal of profit making. On the other hand public sectors are owned by governments. The government takes all decisions, what to produce, how to produce and for whom to produce.
Their main aims revolve around welfare of the citizens of the country so they aim at providing security and employment opportunities for people as well.
Answer:
(b) Government
Explanation:
The public sector refers to "the part of the economy managed and controlled by the government and concerned with giving basic government services. The formation of the public sector run by state/central government, the public sector also provides some services as the police force, Defense/Military Forces, public roads, Transportation, Traffic systems, primary education and medical facilities for the poor. The public sector might provide services that non-payer cannot be excluded from, services which benefit all of society rather than just the individual who uses the service, and services that encourage equal opportunity."