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Secondary Activities
Question
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How are industries classified on the basis of ownership ?

Answer

The classification of industries on the basis of ownership :


(i) Public Sector: When the ownership and management of an industry is in hand of the state it is called a public sector industry.

(ii) Private Sector: Industries owned and managed by an individual or a corporate body belong to private sector.

(iii) Joint Sector: Some individuals join together under operatorship to establish industries. These are called joint sector.

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Write a short note on the following in about 30 words.

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