Classification of Commercial Organisations
ICSE · Class 9 · Commercial Studies
Complete topic list for Classification of Commercial Organisations in ICSE Class 9 Commercial Studies. Key concepts, sub-topics, and what to focus on for board exams.
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Topics in Classification of Commercial Organisations
Meaning of Commercial Organisations
- Commercial organisations undertake commercial activities.
- Their main motive is to earn profit.
- They may be owned by one person or by more than one person.
Classification on the Basis of Ownership
- Commercial organisations on the basis of ownership are classified as private sector, public sector and joint sector enterprises.
- Ownership decides who controls the business and who provides finance.
- This is the main classification asked in examinations.
Private Sector Enterprises
- These undertakings are owned, controlled and financed by private businessmen.
- There is no government participation in them.
- Their main motive is to earn profits.
Public Sector Enterprises
- These undertakings are owned and operated by a government or a government agency.
- All industrial and commercial undertakings under Central Government, State Governments and Municipal bodies are part of the public sector.
- Their primary objective is to render service to the public at large.
Key Concepts
Central concept: Commercial Organisations Based on Ownership
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