Choose the given statement is true/false:

Private companies provide public facilities for the welfare of the people without any profit motive.

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True

False

answer is B.

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Detailed Solution

The given statement is False.
Private companies work on the principle of profit-making. This means they charge high rates for the public facilities they provide to the people. This makes public facilities, such as schools and hospitals, unaffordable for the poorer sections of society. Therefore, the role of the government is essential for regulating these private companies and providing welfare services to the people at free or nominal prices.
Thus the correct statement is that private companies provide public facilities for the welfare of the people with a profit motive.

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