Which are the two sectors based on the ownership of resources? Explain each of them.

(i). Public Sector and Private Sector.

(ii) Public Sector: The government owns most of the assets and provides all the services. Ex : -Railway or Post office are examples of Public Sector.

(iii) Private Sector- Ownership of assets and delivery of services is in the hands of private individuals or companies. Ex : Companies like Tata Iron and Steel Company Limited (TISCO), Reliance Industries Limited (RIL) are privately owned companies.could be considered)