Question

Goods and services are produced and supplied by _____________ sector on the basis of 'no profit, no loss'.

• A. joint
• B. private
• C. public
• D. none of the above

Answer 1

Answer: (C)

public

A view is being widely circulated that in public enterprises, as in private ones, the principle of profit-making must be maintained. The principle of 'no profit, no loss' is, according to this view, contrary to planned economic growth and must be discarded. Railways and Life Insurance, for example, which are Government monopolies, are run explicitly on business principles.