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Q.

Mention if the given statement is true or false:

Private sector focuses on its profits while the public sector is more concerned with welfare.

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a

True

b

False

answer is A.

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Detailed Solution

The given statement is true.
In the public sector, the government owns the assets and is responsible for the delivery of the services. The industries of this sector are mainly concerned with the welfare of society. The private sector refers to the portion of a country's economy that is owned, controlled, and managed by private individuals or businesses rather than the state or a public body like the government. The main motive of private industries is earning profits.

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