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Classify the industries on the basis of ownership. |
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Answer» On the basis of ownership, industries are classified into the following three classes: 1. Public Sector Industries: These industries are under government ownership. Many industries of India are public sector industries. Most of the industries in communist countries are under public sector. 2. Private Sector Industries: Under this, ownership and control of industries lie in the hands of the investors. Most of the industries in countries with capitalist economy are established in the private sector. 3. Joint Sector Industries: This type of industries are operated with joint efforts of both public and private sector. |
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