The sectors are classified into public and private sector on the basis of ____________.

employment conditions

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the nature of economic activity

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ownership of enterprises

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members of workers employed in the firm

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Solution

The correct option is C ownership of enterprises
The three economic sectors can be further classified under the Public and Private sector on the basis of who owns the assets and who is responsible for delivering the services.
1:In Public sector, the government owns most of the assets and provides all the services.
2:In the Private sector, ownership of assets and delivery of services is in the hands of private individual or companies.

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Similar questions

Choose the most appropriate answer.

(a) The sectors are classified into public and private sector on the basis of:

(i) employment conditions

(ii) the nature of economic activity

(iii) ownership of enterprises

(iv) number of workers employed in the enterprise

(b) Production of a commodity, mostly through the natural process, is an activity in ______________ sector.

(i) primary

(ii) secondary

(iii) tertiary

(iv) information technology

(i) all goods and services

(ii) all final goods and services

(iii) all intermediate goods and services

(iv) all intermediate and final goods and services

(d) In terms of GDP the share of tertiary sector in 2003 is _________

(i) between 20 per cent to 30 per cent

(ii) between 30 per cent to 40 per cent

(iii) between 50 per cent to 60 per cent

(iv) 70 per cent

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