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Question
Identify the basis for classification of economic activities into public and private sectors.
Identify the basis for classification of economic activities into public and private sectors.
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Solution
The correct option is D Responsiblity for the delivery of service
On the basis of owership of assets and responsibility for the delivery of services, economic activities are classified into private and public sectors. In the public sector, the government owns most of the assets and assumes responsibility for the delivery of services. In the private sector, the ownership of the assets and the delivery of services rest with private entities.
On the basis of owership of assets and responsibility for the delivery of services, economic activities are classified into private and public sectors. In the public sector, the government owns most of the assets and assumes responsibility for the delivery of services. In the private sector, the ownership of the assets and the delivery of services rest with private entities.
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