what is different between private sector and public sector
Answers
. The sector in which ownership of the asset and delivery of goods and services is in the hand of government is called public sector.its main objective is people's welfare but the sector in which ownership of the asset and delivery of the service is in the hand of individual or group of individual is called private sector.its main motive is earning profit.
Public sector :-
The aim of public sector is to increase the facilities for public welfare.
The government owns most of the assets and provides all the services.
The decisions regarding production and distribution are taken by the government of the country.
Public sector provides basic facilities like education, health, food and security to the people.
Example :- Indian Railways and the post office etc.
Private Sector :-
The aim of Private sector is to earn maximum profits.
The ownership of assets and delivery of services is the hands of private individuals or companies.
The decisions regarding production and distribution are taken by owners or the manager of the country.
Private sector provides consumer goods to the people.
Example :- Reliance Industries Limited and Amul