What is the difference between "Organisied - Unorganisied" and "Public and Private" Sectors
Asked by sureshkalanjoor | 14th Sep, 2015, 04:08: PM
The private sector refers to all those occupations and economic activities which are owned and controlled by individuals. The main aim of the private sector is to earn profits. Demand and supply of market forces determines the production activity.
The public sector refers to all those occupations and economic activities which are owned and controlled by the government. The main aim is not only to earn profits but also to provide key services to the people at low costs. Hence, the public sector may incur loss.
Organised sector refers to those enterprises or places of work where the terms of employment are regular. The employee gets paid leaves, medical benefits, gratuity and provident fund. There is security of job.
Unorganised sector refers to small and scattered units which are largely outside the control of the Government. The rules and regulations regarding the terms and conditions of employment are not followed. No paid leaves, overtime, gratuity, provident fund and medical benefits are given to the employees. There is no security of job during the lean period.
Answered by | 14th Sep, 2015, 06:04: PM
Kindly Sign up for a personalised experience
- Ask Study Doubts
- Sample Papers
- Past Year Papers
- Textbook Solutions
Verify mobile number
Enter the OTP sent to your number