Railway is an example of :a)Private Sectorb)Public Sectorc)Secondary S...
Railway is an example of public sector because government is the one who provide the services to the people. Government themselves provide money for the construction by taking the taxes from the people
Railway is an example of :a)Private Sectorb)Public Sectorc)Secondary S...
Explanation:
Railway is an example of Public Sector because it is owned and operated by the government of the respective country and provides public services. In most countries, railways are considered a strategic sector and are managed by the government to ensure safety, efficiency and affordability for the public.
Public Sector refers to the part of the economy that is controlled and managed by the government. The main objective of public sector enterprises is to provide essential goods and services to the public at affordable prices. Public sector enterprises are funded by the government and are accountable to the public.
Advantages of Public Sector Railways:
- Public sector railways are able to provide essential services to the public at affordable prices.
- Public sector railways are able to operate in remote and economically unviable areas where private sector enterprises may not be interested in operating.
- Public sector railways are able to provide employment opportunities to a large number of people.
Disadvantages of Public Sector Railways:
- Public sector railways may not be as efficient as private sector railways due to bureaucratic procedures and lack of innovation.
- Public sector railways may suffer from political interference and corruption.
- Public sector railways may not be able to generate profits due to their social objectives.
In conclusion, railway is an important example of public sector enterprises as it provides essential services to the public and is managed by the government. Although there are advantages and disadvantages to the public sector railways, they play an important role in the economy and society.
To make sure you are not studying endlessly, EduRev has designed Class 10 study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in Class 10.