Question

Sectors are classified into Public and Private sectors on the basis of _____.

• A. employment conditions
• B. the nature of economic activity
• C. ownership of enterprises
• D. members of workers employed in the firm

Answer 1

The correct option is C ownership of enterprises

Sectors are classified as the Public and Private sector.
In the public sector, the government owns most of the assets and provides all the services.
In the private sector, ownership of assets and delivery of services is in the hands of private individuals or companies

Railways or post office is an example of the public sector whereas companies like Tata Iron and Steel Company Limited (TISCO) or Reliance Industries Limited (RIL) are privately owned.