Advertisements
Advertisements
Question
Write the functions of private sector.
Answer in Brief
Advertisements
Solution
- The main function of the private sector is to create innovation and modernization.
- The profit motive drives them to invent, innovate new techniques of production, and manage the productive activities in a scientific manner.
- Develop and maintain infrastructure and services.
- Promote and expand existing businesses.
- Promote human capital development to help vulnerable groups especially to participate in the labour market and encourage community business and cooperation, local exchange system.
- Promote small, micro, and medium enterprises through supply-side measures and demand-side measures and attract investment in the city.
shaalaa.com
Introduction of Public and Private Sector
Is there an error in this question or solution?
APPEARS IN
RELATED QUESTIONS
Name some indicators that measure socio-economic development.
What are the importance of public sector?
Write the differences between public and private sector.
How is the Public sector divided?
The life cycle of the people increases due to ______.
The first Industrial Policy resolution was announced in ______.
What type of economy was promoted by Jawaharlal Nehru?
What do you mean by the term ‘Smart City’?
Citing reasons, evaluate the performance of private sector over public sector enterprises in the following case:
Decision taking.
Citing reasons, evaluate the performance of private sector over public sector enterprises in the following case:
Managerial efficiency.
