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Q.

Which of the following is an example of the private sector?

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a

TISCO

b

Bsnl

c

Post office

d

Railways

answer is A.

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Detailed Solution

TISCO is an example of the private sector.
Individuals own the private sector. The motivation in the private sector is to get maximum profit. The investment cost in the public sector is very high, while it is competitively low in the private sector. The goods and services produced by this sector are also priced higher than the public sector, leading to more profits. Thus, they can be out of reach for the poorer sections of society. Since general welfare is not a goal of the private sector, they will not consider these people who are excluded from accessing their goods and services.

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