Private - Public and Global Enterprises

Objectives Notes Exam Tips Practice Qs Ask AI

Learning Objectives

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Learning Objectives

Explain the concept and characteristics of business.
Explain the features of different forms of public enterprises, viz., departmental, statutory corporations, and government companies.
Critically examine the changing role of the public sector.
Explain the features of global enterprises.
Appreciate the benefits of joint ventures.

Revision Notes & Summary

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Chapter 3: Private, Public and Global Enterprises

Learning Objectives

Explain the concept and characteristics of business.
Explain the features of different forms of public enterprises viz., departmental, statutory corporations, and government companies.
Critically examine the changing role of the public sector.
Explain the features of global enterprises.
Appreciate the benefits of joint ventures.

Summary

Private Sector and Public Sector: The Indian economy consists of both privately owned and government-owned business enterprises, classified into private and public sectors.
- Private Sector: Owned by individuals or groups (e.g., sole proprietorship, partnership, joint Hindu family, cooperative, company).
- Public Sector: Owned and managed by the government, either partly or wholly.
Forms of Organising Public Sector Enterprises:
1. Departmental Undertaking: Established as departments of the ministry, integral to government functioning.
2. Statutory Corporation: Created by a Special Act of Parliament, financially independent with defined powers.
3. Government Company: At least 51% of paid-up capital held by the government.

Key Terms

Public sector
Public enterprises
Statutory corporation
Joint ventures
Departmental undertaking
Government companies
Disinvestment
Public accountability
Globalisation
Global enterprises
Public Sector Undertakings
Public Private Partnership
Privatisation

Joint Ventures

Meaning: A joint venture is the pooling of resources and expertise by two or more businesses for mutual benefit.
Benefits:
- Increased resources and capacity.
- Shared ownership and management.
- Shared responsibilities regarding capital investment.

Changing Role of Public Sector

Post-1991 economic policies emphasized liberalization, privatization, and globalization, redefining the public sector's role to actively compete with private sector companies.
Development of Infrastructure: Government mobilizes capital and coordinates industrial construction.
Regional Balance: Government aims to develop all regions equally and prevent concentration of industries in advanced areas.
Economies of Scale: Public sector necessary for large-scale industries requiring huge capital.
Check Over Concentration of Economic Power: Public sector acts as a counterbalance to private sector monopolies.
Import Substitution: Public sector companies established to reduce reliance on imports.

Exam Tips & Common Mistakes

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Common Mistakes and Exam Tips

Common Pitfalls

Misunderstanding the definitions: Students often confuse public sector with private sector definitions. Ensure clarity on ownership and management distinctions.
Overlooking the types of public enterprises: Forgetting to classify public enterprises into departmental undertakings, statutory corporations, and government companies can lead to incomplete answers.
Ignoring the role of joint ventures: Failing to explain the significance and benefits of joint ventures in the context of global enterprises can weaken responses.
Neglecting the impact of government policies: Not discussing the Industrial Policy of 1991 and its implications on the public sector can result in missing key points in long answer questions.

Exam Tips

Define key terms clearly: When asked about public and private sectors, provide clear definitions and examples to illustrate your understanding.
Use structured answers: For long answer questions, break down your responses into subheadings to enhance clarity and organization.
Highlight benefits and drawbacks: When discussing joint ventures or public-private partnerships, clearly outline both the advantages and potential challenges.
Stay updated on current events: Relate your answers to recent developments in the public sector, such as disinvestment and privatization trends, to demonstrate relevance.

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Practice Test – MCQs, True/False

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Multiple Choice Questions

Exclusive focus on domestic markets

Pooling of resources and expertise for mutual benefit

Complete independence from other businesses

Avoidance of foreign collaborations

Correct Answer: B

Solution:

Joint ventures involve pooling of resources and expertise by two or more businesses to achieve a particular goal, sharing risks and rewards.

To monopolize all industries.

To provide infrastructure and support industrialization.

To eliminate private sector competition.

To focus solely on international trade.

Correct Answer: B

Solution:

The public sector provides infrastructure and supports industrialization, which is crucial for economic development.

It is a department of the government

It is created by a special act of Parliament

It is owned by private individuals

It operates only in the private sector

Correct Answer: B

Solution:

Statutory corporations are public enterprises brought into existence by a Special Act of the Parliament.

They limit the expansion of market territory

They reduce the need for foreign collaboration

They allow pooling of resources and expertise for mutual goals

They increase the concentration of economic power

Correct Answer: C

Solution:

Joint ventures are beneficial as they allow businesses to pool resources and expertise to achieve mutual goals, often leading to business expansion and entry into new markets.

Focusing solely on domestic markets

Establishing a network of subsidiaries and affiliates in host countries

Restricting operations to a single country

Avoiding foreign collaborations

Correct Answer: B

Solution:

Global enterprises expand their market territory by operating through a network of subsidiaries, branches, and affiliates in host countries, allowing them to become international brands.

Exclusive ownership of resources

Increased risk due to shared resources

Pooling of resources and expertise to enter new markets

Limited access to new technologies

Correct Answer: C

Solution:

Joint ventures allow businesses to pool resources and expertise, which is particularly beneficial for entering new markets and expanding business operations.

To increase government ownership

To raise resources and encourage wider public participation

To nationalize private companies

To reduce competition in the market

Correct Answer: B

Solution:

Disinvestment involves selling equity shares to the private sector and the public to raise resources and encourage wider participation.

By monopolizing all industries

By investing in small-scale industries only

By investing in heavy industries where private sector participation is limited

By reducing the number of public sector enterprises

Correct Answer: C

Solution:

The public sector acts as a check over the private sector by investing in heavy industries, preventing wealth concentration in a few hands.

They are created by a special act of the Parliament.

They are owned by private individuals.

They do not have financial independence.

They operate only in the local market.

Correct Answer: A

Solution:

Statutory corporations are public enterprises brought into existence by a Special Act of the Parliament, which defines their powers and functions.

They require less capital investment

They allow for greater private sector participation

They are more flexible and can operate with a mix of government and private ownership

They are exempt from all government regulations

Correct Answer: C

Solution:

Government companies are preferred because they allow for a flexible mix of government and private ownership, which can enhance efficiency and competitiveness.

A company where the government holds less than 50% of the capital

A company where not less than 51% of the paid-up capital is held by the government

A company that is fully owned by private individuals

A company that operates only in the private sector

Correct Answer: B

Solution:

A government company is one in which not less than 51% of the paid-up capital is held by the central government, state governments, or both.

To privatize all public sector companies.

To create monopolies in the market.

For allocation and completion of development projects.

To increase government control over private enterprises.

Correct Answer: C

Solution:

Public private partnership is a relationship among public sector and private sector for allocation and completion of development projects.

To increase the concentration of economic power.

To ensure regional balance and development.

To promote monopolistic practices.

To reduce government spending.

Correct Answer: B

Solution:

The government aims to develop backward regions to ensure regional balance in the country.

A company fully owned by the government

A collaboration between public and private sectors for development projects

A merger between two private companies

A joint venture between two government entities

Correct Answer: B

Solution:

A public-private partnership is a relationship between public and private sectors for the allocation and completion of development projects.

Private sector

Public sector

Global enterprises

Joint ventures

Correct Answer: B

Solution:

The public sector is responsible for setting up large scale industries with huge capital outlay to take advantage of economies of scale.

It allows for complete privatization.

It provides flexibility and autonomy in operations.

It is fully funded by private investors.

It is exempt from all government regulations.

Correct Answer: B

Solution:

The government company form of organisation is preferred because it provides flexibility and autonomy in operations while being majorly owned by the government.

To mobilize huge capital and coordinate industrial construction

To compete with private sector companies

To focus on small-scale industries

To privatize all public sector units

Correct Answer: A

Solution:

The public sector is responsible for mobilizing huge capital and coordinating industrial construction, which is crucial for the development of infrastructure.

Limited capital resources

Local market focus

Centralized control with international operations

Minimal technological advancement

Correct Answer: C

Solution:

Global enterprises are characterized by centralized control with international operations, allowing them to manage a network of subsidiaries across various countries.

By reducing their operational autonomy

By eliminating accountability for results

By granting greater autonomy and setting clear targets

By increasing government interference in daily operations

Correct Answer: C

Solution:

The MoU system improves performance by granting greater autonomy to public sector units while holding them accountable for achieving specified results.

It is entirely owned by private investors.

It has at least 51% of its paid-up capital held by the government.

It operates without any government oversight.

It is a partnership between two private entities.

Correct Answer: B

Solution:

A government company is defined as any company in which not less than 51% of the paid-up capital is held by the government.

To act as a passive observer in the economy

To actively participate and compete in the market

To focus solely on international trade

To privatize all public enterprises

Correct Answer: B

Solution:

Before 1991, the public sector in India was expected to actively participate and compete in the market with private sector companies.

Only private sector

Only public sector

Both private and public sectors

Only global enterprises

Correct Answer: C

Solution:

In a mixed economy, both private and government enterprises are allowed to operate, as is the case in India.

Limited product range

Centralized control with headquarters in the home country

Focus on local markets only

Minimal capital resources

Correct Answer: B

Solution:

Global enterprises have centralized control with their headquarters in their home country, which distinguishes them from other business organizations.

Increase in the number of reserved industries

Disinvestment of shares

Complete privatization of all PSUs

Elimination of foreign collaborations

Correct Answer: B

Solution:

The post-1991 economic reforms included the disinvestment of shares of select public sector enterprises to encourage wider participation.

Complete withdrawal from all industrial sectors

Increased focus on monopolistic practices

Active participation and competition with the private sector

Exclusive investment in non-strategic sectors

Correct Answer: C

Solution:

Post-1990s economic reforms, the public sector was redefined to actively participate and compete in the market with private sector companies.

To ensure economic development in backward areas

To prevent the concentration of industries in advanced areas

To increase the number of private sector units in advanced areas

To provide employment opportunities in less developed regions

Correct Answer: C

Solution:

The government aims to prevent the mushrooming growth of private sector units in already advanced areas to maintain regional balance.

It is created by a Special Act of Parliament.

It is a part of the ministry.

It is wholly owned by the government.

It operates in multiple countries.

Correct Answer: A

Solution:

A statutory corporation is a public enterprise created by a Special Act of Parliament, which defines its powers, functions, and governance.

To concentrate industrial growth in metropolitan areas.

To develop backward regions and reduce regional disparities.

To focus solely on international trade.

To privatize all public sector enterprises.

Correct Answer: B

Solution:

The public sector aims to develop backward regions to ensure a regional balance and reduce disparities across different areas.

It is fully owned by the private sector.

It is a corporate body created by a special act of the legislature.

Not less than 51% of its paid-up capital is held by the government.

It operates in multiple countries.

Correct Answer: C

Solution:

A government company is one in which not less than 51% of the paid-up capital is held by the government.

To increase government revenue.

To ensure regional balance and development.

To create monopolies in those areas.

To reduce the influence of private enterprises.

Correct Answer: B

Solution:

The government sets up public sector enterprises in backward regions to ensure regional balance, promote economic development, and reduce regional disparities.

The public sector was expected to play a passive role.

The public sector was to actively compete with the private sector.

The public sector was completely privatized.

The public sector was limited to only three industries.

Correct Answer: B

Solution:

Post-1991, the public sector was redefined to actively participate and compete in the market with private sector companies.

By limiting their operations to a single country.

By expanding their market territory and increasing production.

By reducing their product lines.

By avoiding foreign collaborations.

Correct Answer: B

Solution:

Global enterprises achieve economies of scale by expanding their market territory, increasing production, and utilizing their large-scale operations.

They have limited products to focus on.

They rely solely on local advertising.

They use aggressive and effective marketing strategies.

They avoid international markets.

Correct Answer: C

Solution:

Global enterprises have a competitive advantage in marketing because they use aggressive and effective strategies, possess reliable market information systems, and have well-known brands.

Concentration of economic power

Sharing of risks and rewards

Reduced market territory

Limited technological advancement

Correct Answer: B

Solution:

Joint ventures allow businesses to pool resources and expertise, sharing both risks and rewards, which is a significant advantage.

To increase the concentration of economic power

To develop infrastructure in already advanced areas

To ensure regional balance and remove disparities

To promote monopolistic practices

Correct Answer: C

Solution:

The government aims to ensure regional balance and remove disparities by establishing enterprises in backward regions, as outlined in the planned development objectives.

A merger of two companies into one

A temporary partnership between two businesses for mutual benefit

A government takeover of a private company

A type of sole proprietorship

Correct Answer: B

Solution:

A joint venture is a collaboration between two businesses for a common purpose and mutual benefit.

By concentrating industries in already developed areas

By setting up enterprises in backward regions

By focusing solely on urban development

By reducing investments in infrastructure

Correct Answer: B

Solution:

The public sector aims to develop backward regions by setting up enterprises in these areas, ensuring a balanced regional development.

To concentrate industries in already developed areas

To develop backward regions and ensure balanced regional development

To focus only on urban development

To privatize all public sector enterprises

Correct Answer: B

Solution:

The public sector aims to develop backward regions to ensure a regional balance in the country.

To increase dependency on foreign goods.

To become self-reliant in various spheres.

To reduce domestic production.

To encourage monopolistic practices.

Correct Answer: B

Solution:

Import substitution aims to make the country self-reliant by reducing dependency on foreign goods.

Limited market territory

Centralized control with headquarters in the home country

Focus on a single product line

Lack of foreign collaboration

Correct Answer: B

Solution:

Global enterprises have centralized control with their headquarters in their home country, managing operations across various countries.

To operate independently of government control

To function as an extension of government ministries

To compete with private sector companies

To engage in international trade

Correct Answer: B

Solution:

Departmental undertakings are established as departments of the ministry and are considered part or an extension of the ministry itself, allowing the government to directly manage certain activities.

It is created by a special act of the Parliament.

It has defined powers and functions.

It is financially dependent on the government.

It operates in a specified area or type of commercial activity.

Correct Answer: C

Solution:

A statutory corporation is financially independent with a clear control over a specified area or type of commercial activity.

Increasing government equity in public enterprises.

Selling equity shares to the private sector and public.

Merging public enterprises with global companies.

Closing down all public sector enterprises.

Correct Answer: B

Solution:

Disinvestment involves selling equity shares of public sector enterprises to the private sector and the public.

To increase government ownership in strategic sectors

To raise resources and encourage wider public participation

To concentrate economic power in the hands of the government

To eliminate private sector competition

Correct Answer: B

Solution:

Disinvestment aims to raise resources and encourage wider public participation in the ownership of public sector enterprises.

It is fully owned by private individuals.

It is a subsidiary of a foreign corporation.

It has at least 51% of its paid-up capital held by the government.

It operates only in the domestic market.

Correct Answer: C

Solution:

A government company is defined as one where not less than 51% of the paid-up capital is held by the government.

Centralised control

Limited capital resources

Advanced technology

Product innovation

Correct Answer: B

Solution:

Global enterprises are characterized by huge capital resources, not limited ones, as well as centralised control, advanced technology, and product innovation.

To completely eliminate government involvement in business.

To enhance the quality and efficiency of public services.

To ensure that private enterprises do not participate in public projects.

To focus only on short-term financial gains.

Correct Answer: B

Solution:

Public-private partnerships aim to leverage the strengths of both the public and private sectors to enhance the quality and efficiency of public services and infrastructure projects.

They eliminate competition

They allow pooling of resources and expertise

They ensure complete ownership by one party

They are only beneficial for short-term projects

Correct Answer: B

Solution:

Joint ventures involve the pooling of resources and expertise by two or more businesses to achieve a particular goal, sharing risks and rewards.

It limits the market territory of the enterprise.

It provides access to advanced technology and resources.

It restricts the enterprise to operate only in the home country.

It decreases the financial strength of the enterprise.

Correct Answer: B

Solution:

Foreign collaboration allows global enterprises to access advanced technology, resources, and expand their market reach.

Increased concentration of wealth.

Higher costs of production.

Reduced efficiency.

Lower average costs due to large-scale production.

Correct Answer: D

Solution:

Economies of scale allow the public sector to reduce average costs through large-scale production.

Ability to monopolize local markets.

Capacity to survive economic downturns.

Exclusive access to government contracts.

Ensures control over local governments.

Correct Answer: B

Solution:

Global enterprises with huge capital resources can survive under all circumstances due to their financial strength, allowing them to withstand economic downturns.

They are limited to operating within their home country.

They have a centralized control with limited autonomy.

They possess huge capital resources and advanced technology.

They are solely focused on local markets.

Correct Answer: C

Solution:

Global enterprises are characterized by their huge capital resources, ability to raise funds from various sources, and advanced technology, which allow them to operate on a large scale and maintain a competitive edge.

To grant greater autonomy and set targets for public sector units.

To merge public enterprises with private companies.

To privatize all public sector enterprises.

To eliminate competition from the private sector.

Correct Answer: A

Solution:

The MoU system grants greater autonomy to public sector units and holds them accountable for specified results.

It is entirely owned by private individuals.

At least 51% of its paid-up capital is held by the government.

It operates solely in the international market.

It is established by a special act of Parliament.

Correct Answer: B

Solution:

A government company is defined as any company in which not less than 51% of the paid-up capital is held by the central government, state governments, or both.

The ability to increase prices due to lack of competition.

The reduction in average cost per unit through increased production.

The focus on small-scale industries to boost local economies.

The concentration of economic power in private hands.

Correct Answer: B

Solution:

Economies of scale refer to the cost advantages that enterprises obtain due to their scale of operation, with cost per unit of output generally decreasing with increasing scale as fixed costs are spread out over more units of output.

To maximize profits from one or two products.

To ensure regional balance and development of backward areas.

To focus solely on international trade.

To privatize all public sector units immediately.

Correct Answer: B

Solution:

Post-independence, one of the main objectives of public sector enterprises was to ensure regional balance by developing backward areas and preventing the concentration of industries in already advanced regions.

To eliminate all competition.

To pool resources and expertise for a common goal.

To focus on short-term profits only.

To operate exclusively in the public sector.

Correct Answer: B

Solution:

A joint venture involves pooling resources and expertise by two or more businesses to achieve a common goal.

True or False

Correct Answer: True

Solution:

Global enterprises have operations in multiple countries and maintain centralized control from their headquarters.

Correct Answer: False

Solution:

The public sector in India is expected to actively participate and compete in the market with private sector companies, not to play a passive role.

Correct Answer: True

Solution:

The government aims to develop backward regions to ensure regional balance, which is a major objective of planned development.

Correct Answer: False

Solution:

Joint ventures can be formed between private companies, government-owned entities, or a combination of both, and even with foreign companies.

Correct Answer: True

Solution:

Public sector enterprises were established to act as a check over the private sector, preventing wealth concentration and monopolistic practices.

Correct Answer: False

Solution:

Global enterprises extend their industrial and marketing operations through a network of branches in several countries, expanding their market territory.

Correct Answer: True

Solution:

Statutory corporations are indeed public enterprises brought into existence by a Special Act of the Parliament, which defines their powers and functions.

Correct Answer: False

Solution:

Global enterprises are characterized by their huge size, large number of products, advanced technology, and expansive market territory.

Correct Answer: True

Solution:

Public sector enterprises are tasked with ensuring regional balance by developing backward regions as part of planned development.

Correct Answer: True

Solution:

Global enterprises operate in several countries and are known for their advanced technology and marketing strategies.

Correct Answer: True

Solution:

Global enterprises are indeed characterized by their huge capital resources and advanced technology, as mentioned in the excerpts.

Correct Answer: True

Solution:

India's economy is considered a mixed economy as it includes both privately owned and government-owned business enterprises.

Correct Answer: False

Solution:

Global enterprises are characterized by huge capital resources, advanced technology, and an expansive market territory.

Correct Answer: False

Solution:

Global enterprises have an expansive market territory and operate internationally, often through a network of branches.

Correct Answer: False

Solution:

Joint ventures can involve private, government-owned, or foreign companies, and are not limited to government-owned enterprises.

Correct Answer: False

Solution:

Since 1991, the Indian government's policy has been to reduce the number of industries reserved for the public sector, allowing more private sector participation.

Correct Answer: False

Solution:

In the post-1990s period, the role of the public sector was redefined to actively participate and compete in the market with other private sector companies.

Correct Answer: True

Solution:

A joint venture is the pooling of resources and expertise by two or more businesses to achieve a particular goal, sharing the risks and rewards.

Correct Answer: False

Solution:

The private sector consists of businesses owned by individuals or groups of individuals, not the government.

Correct Answer: True

Solution:

A government company is defined as one where not less than 51% of the paid-up capital is held by the central government, state governments, or both.

Correct Answer: True

Solution:

Joint ventures often involve businesses from different countries pooling resources and expertise to achieve common goals.

Correct Answer: True

Solution:

The Indian economy consists of both privately owned and government-owned business enterprises, making it a mixed economy.

Correct Answer: True

Solution:

Statutory corporations are public enterprises brought into existence by a Special Act of the Parliament. The Act defines its powers and functions.

Correct Answer: False

Solution:

The Indian economy is a mixed economy, classified into both private and public sectors.

Correct Answer: True

Solution:

A government company is indeed defined as one where not less than 51 percent of the paid-up capital is held by the central or state governments, or a combination of both.

Correct Answer: True

Solution:

Statutory corporations are public enterprises that are established by a special act of the Parliament, which defines their powers and functions.

Correct Answer: True

Solution:

Public sector enterprises were set up to promote regional balance and act as a check on the concentration of economic power in private hands.

Correct Answer: False

Solution:

At the time of Independence, the public sector was expected to actively participate in the economy and not play a passive role.

Correct Answer: True

Solution:

The public sector plays a crucial role in developing infrastructure like transportation and communication, which are essential for industrialization.

Correct Answer: False

Solution:

Post-1990s, the public sector was expected to actively participate and compete in the market with private sector companies.

Correct Answer: False

Solution:

Joint ventures can be formed between private companies, government-owned enterprises, or a combination of both, including foreign companies.

Correct Answer: False

Solution:

Global enterprises are characterized by possessing huge capital resources and the ability to raise funds from various international sources.

Correct Answer: True

Solution:

A government company is indeed defined by having at least 51 percent of its paid-up capital held by the central or state governments, or a combination of both.

Correct Answer: True

Solution:

India's mixed economy allows for the coexistence of both private and public sector enterprises.

Private - Public and Global Enterprises

Learning Objectives

Learning Objectives

Revision Notes & Summary

Chapter 3: Private, Public and Global Enterprises

Learning Objectives

Summary

Key Terms

Joint Ventures

Changing Role of Public Sector

Exam Tips & Common Mistakes

Common Mistakes and Exam Tips

Common Pitfalls

Exam Tips

AI Learning Assistant

Practice Test – MCQs, True/False

Multiple Choice Questions

Q1.What is a key benefit of joint ventures mentioned in the context of global enterprises?

Correct Answer: B

Q2.What is one of the main roles of the public sector in a mixed economy?

Correct Answer: B

Q3.What is a key feature of a statutory corporation?

Correct Answer: B

Q4.Why are joint ventures considered beneficial for businesses?

Correct Answer: C

Q5.Which of the following strategies is commonly used by global enterprises to expand their market territory?

Correct Answer: B

Q6.What is a significant advantage of joint ventures in the context of business expansion?

Correct Answer: C

Q7.What is the primary objective of disinvestment in public sector enterprises?

Correct Answer: B

Q8.How does the public sector help in checking the concentration of economic power?

Correct Answer: C

Q9.Which of the following is a characteristic of statutory corporations?

Correct Answer: A

Q10.Why are government companies preferred over other forms of public sector enterprises?

Correct Answer: C

Q11.What is a government company?

Correct Answer: B

Q12.What is the primary purpose of a public private partnership?

Correct Answer: C

Q13.What is the primary reason for the government to establish enterprises in backward regions?

Correct Answer: B

Q14.Which of the following describes a public-private partnership?

Correct Answer: B

Q15.Which sector is responsible for setting up large scale industries with huge capital outlay?

Correct Answer: B

Q16.Why is the government company form of organisation preferred in the public sector?

Correct Answer: B

Q17.What is the primary role of the public sector in the development of infrastructure?

Correct Answer: A

Q18.Which feature distinguishes global enterprises from other business organizations?

Correct Answer: C

Q19.How does the Memorandum of Understanding (MoU) system improve the performance of public sector units?

Correct Answer: C

Q20.What is a significant feature of a government company?

Correct Answer: B

Q21.What was the role of the public sector in India before 1991?

Correct Answer: B

Q22.In a mixed economy like India, which sectors are allowed to operate?

Correct Answer: C

Q23.What is a significant characteristic of global enterprises that distinguishes them from other business organizations?

Correct Answer: B

Q24.Which of the following policies was introduced in the Indian economic reforms post-1991 concerning public sector units?

Correct Answer: B

Q25.What was a major change in the role of the public sector in India post-1990s economic reforms?

Correct Answer: C

Q26.Which of the following is NOT a reason for the government to maintain regional balance?

Correct Answer: C

Q27.Which of the following is a characteristic feature of a statutory corporation?

Correct Answer: A

Q28.What is a primary objective of the public sector in ensuring regional balance?

Correct Answer: B

Q29.Which of the following is a characteristic of a government company?

Correct Answer: C

Q30.What is the primary reason for setting up public sector enterprises in backward regions?

Correct Answer: B

Q31.What was a major change in the role of the public sector in India post-1991?

Correct Answer: B

Q32.How do global enterprises typically achieve economies of scale?