Question

Differentiate between private sector and public sector. Give an example of each sector.

Answer 1

Differences between private sector and public sector are
$$\begin{array}{ccc}\text{Basis}& \text{Private sector}& \text{Public Sector}\\ \text{Concept}& \text{Private sector is that}& \text{Public sector is that}\\ & \text{part of the economy}& \text{part of the economy}\\ & \text{in which only private}& \text{in which state acts as}\\ & \text{firms operate.}& \text{sole supplier.}\\ \text{Example}& \text{Reliance Industries}& \text{Mahanagar}\\ & & \text{Telephone Nigam}\\ & & \text{Limited (MTNL)}\end{array}$$