What are the two sectors of the Economy classified on the basis of
Ownership? Explain.
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Answer:
On the basis of ownership : public and private sector. Public sector : government owns most of the assets and provides all the services. eg: railways,post office. Private sector : owners of assets and delivery of services are in the hands of private individuals or private companies.
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Explanation:
On the basis of ownership : public and private sector. Public sector : government owns most of the assets and provides all the services. eg: railways,post office. Private sector : owners of assets and delivery of services are in the hands of private individuals or private companies.
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