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Question
Explain the following term/concept.
Private Sector Organisation.
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Solution
- It is owned, managed, controlled, and financed by individuals or groups of individuals.
- It includes Sole Trading Concern, Joint Hindu Family Firm, Partnership Firm, Joint Stock Company, and Cooperative Society.
- Its main objective is to maximise profit.
- It is managed by the owner himself or by their elected representatives.
- It generally operates in industrial and commercial areas only.
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Private sector aims at providing essential services to customers.
Match the pairs.
| Group ‘A’ | Group ‘B’ | ||
| A) | BHEL | 1) | Special Legislature |
| B) | Statutory Corporation | 2) | 49% paid up capital by govt. |
| C) | Departmental Organisation | 3) | Service Motive |
| D) | Private Sector | 4) | Railway |
| E) | Public Sector | 5) | Profit Motive |
| 6) | 51% paid up capital by govt. | ||
Match the pairs.
| Group ‘A’ | Group ‘B’ | ||
| A) | BHEL | 1) | Special Legislature |
| B) | Statutory Corporation | 2) | 49% paid up capital by govt. |
| C) | Departmental Organisation | 3) | Service Motive |
| D) | Private Sector | 4) | Railway |
| E) | Public Sector | 5) | Profit Motive |
| 6) | 51% paid up capital by govt. | ||
Match the pairs.
| Group ‘A’ | Group ‘B’ | ||
| A) | BHEL | 1) | Special Legislature |
| B) | Statutory Corporation | 2) | 49% paid up capital by govt |
| C) | Departmental Organisation | 3) | Service Motive |
| D) | Private Sector | 4) | Railway |
| E) | Public Sector | 5) | Profit Motive |
| 6) | 51% paid up capital by govt | ||
Match the pairs.
| Group ‘A’ | Group ‘B’ | ||
| A) | BHEL | 1) | Special Legislature |
| B) | Statutory Corporation | 2) | 49% paid up capital by govt. |
| C) | Departmental Organisation | 3) | Service Motive |
| D) | Private Sector | 4) | Railway |
| E) | Public Sector | 5) | Profit Motive |
| 6) | 51% paid up capital by govt. | ||
Match the pairs.
| Group 'A' | Group 'B' | ||
| A) | BHEL | 1) | Special Legislature |
| B) | Statutory Corporation | 2) | 49% paid-up capital by govt |
| C) | Departmental Organisation | 3) | Service Motive |
| D) | Private Sector | 4) | Railway |
| E | Public Sector | 5) | Profit Motive |
| 6) | 51% paid-up capital by govt. | ||
Match the pairs:
| Group ‘A’ | Group ‘B’ |
| A) BHEL | 1) Special Legislature |
| B) Statutory Corporation | 2) 49% paid up capital by government |
| C) Departmental Organisation | 3) Service Motive |
| D) Private Sector | 4) Railway |
| E) Public Sector | 5) Profit Motive |
| 6) 51% paid up capital by government |
Which of the following statements is true for the private sector?
Who described public enterprise as state ownership and operation in various sectors?
During which historical stage did the formalised growth of public sector enterprises occur in India?
