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Q.

The sector in which the government owns most of the assets and provides all the services is called:


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a

Public sector

b

Private sector

c

Mixed sector

d

None of the above 

answer is A.

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Detailed Solution

In the public sector, most of the assets are owned by the government, and services are also provided by it. The main motive of such organisations is to promote social welfare and uphold the public interest. The government finances such enterprises; thus, separate provision is made for such enterprises in the budget. A few examples of public sector enterprises are AIR (All India Radio), LIC (Life Insurance Corporation) Ltd, and the Steel Authority of India.
 
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