Question

Explain industries based on ownership.

Answer 1

Instructions:

• 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.

• Industries based on the Public ownership sector: The government owns and operates.
  • 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: Oil India Limited
• Cooperative Sector​: Owned by producers and suppliers of raw material​.
  • Example: Amul