Business Studies

Short Answer Type Questions: Distinguish between public sector and private sector enterprise.


SOLUTION
The Public and Private sector can be distinguished as follows:
  • Objective: The main objective of public sector is social welfare and that of private sector is profitability.
  • Control: Public sector is controlled by the Government and the Private sector is controlled by private individuals or companies
  • Funding: Public sector funding comes from public revenues and private sector funding comes from shares or loans or investment from private individuals.
  • Interference from government: Public sector gets a lot of interference from the government but the private sector does not.
  • Area of operations: The public sector operates even at remote regions for overall development but the private sector hesitates to work in areas with no proper resources
  • Development: The development and welfare of the country and its people are motives of the public sector while the private sector does not feel it is important to also think about development of the country.
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Subjective Medium Published on 18th 08, 2020
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