Distinguish between Public sector and Private sector

cbse
economics
cbse-class-10
sectors-ind-economy
cbse-class-10-social

#1

Distinguish between Public sector and Private sector.

Answer:
Public sector:

  • It is controlled and managed by the government.
  • The main aim of the sector is public welfare.
  • The sector provides basic facilities like education, health, food and security to the people. For Example: Railways, Post office, BSNL.

Private sector:

  • It is controlled and managed by an individual or a group.
  • The main aim of the sector is to earn profits.
  • Private sector does not provide any service at a reasonable rate. For example: Tatas, Birlas, Reliance.