Classify industries based on ownership.

1.	Classify industries based on ownership.
Answer» (i) Public Sector Industries are owned and managed by governments. In India there were a number of Public Sector undertakings. Socialist countries have many state owned industries. Mixed economics have both public and private sector enterprises. (ii) Private Sector Industries are owned by individual investors. These are managed by private organisations. In capitalist countries, industries are usually owned privately. (iii) Joint Sector Industries are managed by joint stock companies. Sometimes the private and public sectors together establish and manage the industries.

Answer»

(i) Public Sector Industries are owned and managed by governments. In India there were a number of Public Sector undertakings. Socialist countries have many state owned industries. Mixed economics have both public and private sector enterprises.

(ii) Private Sector Industries are owned by individual investors. These are managed by private organisations. In capitalist countries, industries are usually owned privately.

(iii) Joint Sector Industries are managed by joint stock companies. Sometimes the private and public sectors together establish and manage the industries.

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