Question

Explain industries based on ownership.

Answer 1

Instruction:

• Describe industries
• Explain public, private, joint, and cooperative

Solution:
Industry refers to economic activity that is concerned with the production of goods, extraction of minerals, or the provision of services. Industries can be classified into various categories.

1. Industries based on ownership

• Public sector: It is owned and operated by the government.
  • Example: BHEL ( Bharat Heavy Electrical Limited)
• Private Sector​: This is owned by individuals or groups of individuals​.
  • Example: TATA Power
• Joint Sector​: Ownership shared between public sector agencies and private groups​.
  • Example: Maruti Suzuki
• Cooperative Sector​: Owned by producers and suppliers of raw material​.
  • Example: Amul