Public Sector Enterprises
ICSE · Class 9 · Commercial Studies
Flashcards for Public Sector Enterprises — ICSE Class 9 Commercial Studies. Quick Q&A cards covering key concepts, definitions, and formulas.
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What is a public enterprise?
Answer
A public enterprise is an industrial or commercial undertaking owned and controlled by the Central Government, State Government, local authority, or a combination of them. It works to provide goods or…
Who defined public enterprise as state ownership and operation of industrial, agricultural, financial and commercial undertakings?
Answer
A.H. Hanson gave this definition of public enterprise. It highlights that the Government owns and operates important economic activities.
What is meant by state undertakings?
Answer
State undertakings are industrial, commercial, and economic activities carried on by the Central Government or a State Government, either alone or with private enterprise, as long as they are managed …
What are the main features of public enterprises?
Answer
The main features are state ownership, state control, government financing, service motive, and public accountability. These features show that public enterprises are created to serve society and use …
Why is state ownership important in public enterprises?
Answer
State ownership means the Government owns the enterprise fully or jointly. If the enterprise is owned by both the Government and the private sector, the State must have at least 51 per cent share in o…
What is the service motive of a public enterprise?
Answer
The service motive means the main aim is to serve society, not only to earn profit. A public enterprise may even suffer losses if it is helping the public in an important way.
Why are public enterprises accountable to the Parliament and State Legislature?
Answer
Public enterprises use public money, so they must explain their work and results to elected representatives. Their work is checked by committees of the Parliament or State Legislature.
Why does the Government set up public enterprises for rapid industrialisation?
Answer
Many basic industries need huge capital and have long waiting periods before profit begins. Private investors may avoid such industries, so the Government sets them up to build a strong industrial bas…
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