which are the two sectors based on the ownership of resources explain each of them

get which are the two sectors based on the ownership of resources explain each of them from screen.

On the basis of ownership, industries can be classified as:

On the basis of ownership, industries can be classified as:

Byju's Answer Standard X Economics

Present Industrial Structure

On the basis ... Question

On the basis of ownership, industries can be classified as:

A

Factory and non-factory manufacturing units

B

Public, private, and joint sector

C

Large-scale and small-scale industries

D

Cottage and small-scale industries

Open in App Solution

The correct option is B Public, private, and joint sector

Based on ownership, industries can be classified as public sector, private sector, or joint sector. Public industries are owned and run by the government, whereas private industries are run and owned by private enterprises. Joint sectors are run as a collaboration between the government and private parties.

Suggest Corrections 61

SIMILAR QUESTIONS

Q. In how many types the Industries can be classified on the basis of ownership? Explain any two.Q. Industries can be classified on the basis of _____.Q. On the basis of the nature of goods produced, engineering industries can be classified as either heavy or light industries.Q. On the basis of ownership industries are categories as _____________________.Q. Industries are classified on the basis of:

View More RELATED VIDEOS

Last Two Digits of an Even No. Part 1

ECONOMICS Watch in App EXPLORE MORE

Present Industrial Structure

Standard X Economics

स्रोत : byjus.com

Classify the economic activities into sectors on the basis of ownership of assets.

Click here👆to get an answer to your question ✍️ Classify the economic activities into sectors on the basis of ownership of assets.

Question

Classify the economic activities into sectors on the basis of ownership of assets.

Medium Open in App

Updated on : 2022-09-05

On the basis of ownership of assets, the classification of economic activities is as follows.

Solution Verified by Toppr

1. Public Sector: In this sector, the government owns most of the assets and provides all the services, e.g., railways. This sector predominates certain areas like mining, power generation, transport, healthcare, education etc.

2. Private Sector: In this sector, the ownership of assets and delivery of services is in the hands of private individuals and companies, e.g., TISCO, (Tata Iron and Steel Company). This sector predominates in agricultural and allied manufacturing industries, manufacturing of goods trade, hotel etc.

Was this answer helpful?

86 14

स्रोत : www.toppr.com

Classify economic activity into sector on the basis of ownership

Answer of Classify economic activity into sector on the basis of ownership

. Classify economic activity into sector on the basis of ownership

Do you think government should interfere in the economy? Give arguments to support your answer

Best Answer

Ans: Public Sector: The Government owns most of the assets and provides all the services. For example Railways and post office.

Private Sector: Ownership of assets and delivery of services is in the hands of private individuals or companies. For example Tata Iron and Steel Company Limited (TISCO) and Reliance Industries Limited (RIL).

Government should interfere in the economy due to following reasons:

i. There are several things needed by the society as a whole but which the private sector will not provide at a reasonable cost

ii. Some of these need spending large sums of money, which is beyond the capacity of the private sector. Also, collecting money from thousands of people who use these facilities is not easy. Governments have to undertake such heavy spending and ensure that these facilities are available for everyone at a low price

iii. There are some activities, which the government has to support. Basic services like health, education, PDS etc. which Government can’t be leave for private sector

iv. It is also the duty of the government to take care of the poorest and most ignored regions of the country through increased spending in such areas.

स्रोत : www.pw.live