Question

State any 3 needs for protecting the public sector ​

Answer 1

Answer:

Public sector is controlled, operated and run by the government. In this sector, the government owns most of the assets and provides all the services. The need of public sector is discussed below.

(i) Public sector activities are determined by consideration of social welfare and providing basic amenities for the people. Hence, profit motives are of secondary importance, whereas in private sector, activities are centered around profit motives and service is of secondary importance.

(ii) Public sector deals with either the production, ownership, sale, delivery, allocation of goods and services.

(iii) Public sector ensures development of the backward regions and classes.

Explanation:

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