Sectors in terms of Ownership: Private and Public
- There is another way to categorize the sectors and that is on the basis of who owns the assets and who is responsible for the delivery of services .
- There are 2 categories in which this can be done and they are the Private Sector Enterprises and the Public Sector Enterprises.
Public Sector
- In the Public Sector, all the assets, and responsibilities of service fall upon the Government.
- The main goal of this sector is to serve the common people in the best way possible.
- Their focus is not on earning profits but on providing the best f acilities to the people at cheap rates .
- For Example - Railways, military, National Thermal Power Corporation (NTPC), Government Hospitals, post offices, etc
Private Sector
- In the Private Sector , all the assets and the responsibility for delivery of services are owned by individual or a group of people .
- The sole goal of the enterprises falling in this sector is to earn and maximize their profits .
For Example: Apple, Parle, Reliance, Tata , etc
