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Q.

Identify the picture and select the correct answer from the following


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a

ICICI bank is an example of the Private sector

b

ICICI bank is an example of the Public sector

c

Both 1 and 2

d

None of these  

answer is A.

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Detailed Solution

ICICI bank is an example of the private sector.
The area of the economy that is not under state control and is conducted for profit by people and businesses is known as the private sector. All for-profit companies that are not owned or run by the government are therefore included. The voluntary sector includes charities and other nonprofit groups, whereas the public sector includes businesses and corporations that are governed by the government. The private sector employs more people than the public sector does and has the objective of making money. A new business is formed or a public sector company is privatized to create a private sector entity.
 
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