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Based on ownership over assets, an economy is classified into

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a

Private and public sectors

b

Primary, secondary and tertiary

c

Rural and urban sectors

d

Rich and poor sector

answer is A.

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Detailed Solution

Public sector enterprises are owned by the government, where all the assets and liabilities are in the hands of the state government or central government or partially owned by both based on ownership. Private sector enterprises are those enterprises that have been owned by individuals, not by any government. The assets and liabilities of enterprises in this sector are given to the owner, the only one with the power to control the firm's management. A private company needs to have Pvt. Ltd. at the end of its name, while a government company must have Ltd.

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Based on ownership over assets, an economy is classified into