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

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Davneet Singh

Davneet Singh has done his B.Tech from Indian Institute of Technology, Kanpur. He has been teaching from the past 14 years. He provides courses for Maths, Science, Social Science, Physics, Chemistry, Computer Science at Teachoo.