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What is the motive of private sector? - Economic Applications

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Question

What is the motive of private sector?

Short Answer
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Solution

The motive of the private sector is profit. It operates with the intention of making profit, and its economic activities are managed by individuals or groups without government participation. The private sector organizes resources and production primarily to earn private profit.

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Chapter 9: Other Sectors of Indian Economy - QUESTION BANK [Page 116]

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J. P. Goel and Kaushal Goel Economic Applications [English] Class 9 ICSE
Chapter 9 Other Sectors of Indian Economy
QUESTION BANK | Q 4. | Page 116
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