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what are private,public,joint and cooperative sector industry?
pls. xplain cooperative sector in detail.
- sushobhanLv 61 decade agoFavorite Answer
these are the kind of enterprises/indutries
in a private (pvt.) sector enterprise, the owner of assest and resources is an individual or a group of indivisduals. market force (demand:supply) determine the price of articles. the main aim is PROFIT
in a public sector eneterprise, the government owns the resources and determines the price, and the main aim is the welfare of the citizens
e.g.: in India, BSNL, SAIL, Indian Airlines
when the govt and individual(s) come together to run an industry jointly, it is called a joint sector eneterprise. both of them have a hand in decision making.
e.g.: in India, Power Trading Corporation (PTC)
when the same people produce the raw material of an industry and also process it into products for distribution, it is called cooperative sector. take sugar for example. the farmer grows sugarcane. then, a group of farmers (all of whom grow sugarcane) come together, take a loan and set up a plant that produces sugar from their crop. this is then distributed to the public. so, the farmers grow and process the raw materials, they COOPERATE with each other in both fields. hence, cooperative sector. e.g. in india is Amul (Gujrat Cooperative Society Ltd.) and LijjatSource(s): textbook. i live in india, so my eg.s will be indian co.s