Question
How are industries classified on the basis of ownership ?
Solution
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.
