Public Sector Undertakings and Global Enterprises — Flashcards
ICSE · Class 11 · Commerce
42 flashcards for Public Sector Undertakings and Global Enterprises (ICSE Class 11 Commerce) to test yourself on key terms and facts.
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What is a public enterprise?
Answer
A public enterprise is an undertaking owned, managed, and controlled by the government on behalf of the public. Its main purpose is to serve public interest, though it may also earn profit. Example: I…
How did S.S. Khera define a public undertaking?
Answer
S.S. Khera defined public undertaking as industrial, commercial, and economic activities carried on by the Central Government or a State Government, either solely or with private enterprise, as long a…
How did Encyclopaedia Britannica define public enterprise?
Answer
Public enterprise is an undertaking owned by a National, State, or Local Government that supplies services or goods at a price and works on a more or less self-supporting basis. This shows both public…
What are the main characteristics of public or state enterprises?
Answer
The main characteristics are state ownership, government management and control, financing by government resources, service objective, public accountability, establishment by government, liberal indus…
Why are public enterprises considered accountable to the public?
Answer
Public enterprises use public funds and are accountable through parliamentary control. Their work is reviewed by the legislature, so they cannot function only for private gain. This makes them respons…
What is the difference between the objective of private sector enterprises and public sector enterprises?
Answer
Private sector enterprises mainly aim at profit, while public sector enterprises mainly aim at providing service to the public. Public sector enterprises may earn profit, but service to society is the…
Public Sector Enterprises came into existence under which policy, and what did Jawaharlal Nehru call them?
Answer
Public Sector Enterprises came into existence under the Industrial Policy Resolution of 1956. Jawaharlal Nehru described them as the new temples of India occupying the commanding heights of the nation…
Why did the role of Public Sector Enterprises change after 1991?
Answer
After 1991, there was major rethinking about the role of public sector enterprises. The public sector began to face reduced reservation of industries, greater private sector participation, disinvestme…
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