Samacheer Kalvi Class 8 Economics Chapter 2 Public and Private Sectors Solutions
Welcome to NCTB Solutions. Here with this post we are going to help 8th class students by providing Solutions for Samacheer Kalvi Class 8 Economics Chapter 2 Public and Private Sectors. Here students can easily find all the solved solution for class 8 Social Science, Economics Chapter 2, Public and Private Sectors Exercise questions. Also here our expert Economics Teacher’s solved all the questions with easily understandable language with proper guidance so that all the students can understand easily. Here on this post students will get Chapter 2 Public and Private Sectors exercise solutions. Here all the solutions are based on Tamil Nadu State Board latest syllabus.
Public and Private Sectors Chapter 2 Solutions :
(I) Choose the correct answer
(1) The public sector in India owes its origin in the ___ Industrial policy resolution of the Government of India.
(a) 1957
(b) 1958
(c) 1966
(d) 1956
Answer :
Correct Option → (d)
The public sector in India owes its origin in the 1956 Industrial policy resolution of the Government of India.
(2) Mixed economy is the mixture of merits of both ____
(a) Capitalism
(b) Socialism
(c) a and b are correct
(d) a and b are incorrect
Answer :
Correct Option → (c)
Mixed economy is the mixture of merits of both Capitalism and Socialism.
(3) __ is governed by a company law and controlled by the Government as principal major share holders.
(a) Private Sector
(b) Joint Sector
(c) Public Sector
(d) None of these
Answer :
Correct Option → (b)
Joint Sector is governed by a company law and controlled by the Government as principal major share holders.
(4) Public sector is on _____ motive.
(a) Profit Motive
(b) Service Motive
(c) Speculative Motive
(d) None of these
Answer :
Correct Option → (b)
Public sector is on Service motive.
(II) Fill in the blanks
(1) The ___ and ___ are allotted their respective roles in promoting the economic welfare of all sections of the community.
(2) The private sector is on ___ motive.
(3) ___ is the process of social and economic development in a society.
(4) The main function of private sector is to create ___ and ___ .
(5) The government is committed to strengthening ___ and co-operation among the citizens.
Answer :
(1) → Private sector and Public sector
(2) → Profit
(3) → Socio economic development
(4) → Innovation and modernization
(5) → Understanding
(III) Match the following
| 1. Think Tank | Primary Sector |
| 2. Agriculture | Gross Domestic Product |
| 3. Industries | NITI Aayog |
| 4. GDP | Secondary Sector |
Answer :
(1) Think Tank → NITI Aayog
(2) Agriculture → Primary Sector
(3) Industries → Secondary Sector
(4) GDP → Gross Domestic Product
(IV) Which is the Odd one
(1) Which one of the following is not the indicator of the Socio Economic Development.
(a) Black Money
(b) Life Expectancy
(c) Gross Domestic Product (GDP)
(d) Employment
Answer :
Here the odd one is → Black Money
Black Money is not the indicator of the Socio Economic Development.
(V) Which of the following is a correct answer
(i) The Industries which would be exclusively owned by the state are referred to as Schedule-A
(ii) The industries in which the private sector could supplement the efforts of the state sector, with the state taking the sole responsibility for starting new units which are specific in Schedule-B.
(iii) The remaining industries which were in the private sector are not mentioned in Schedule.
(a) All are Correct
(b) i and iii are correct
(c) i and ii are correct
(d) None of these
Answer :
The correct statements are –
(i) The Industries which would be exclusively owned by the state are referred to as Schedule-A
(ii) The industries in which the private sector could supplement the efforts of the state sector, with the state taking the sole responsibility for starting new units which are specific in Schedule-B.
(VI) Answer in briefly
(1) Write short note on public sectors.
Answer :
Public sectors is engaged in the activities of providing government goods and services to the general public. Its ensure the proper wage. Its depends upon levy of taxes on income and comicalities and services and its does not allow to concentrate huge wear 1th in few hands or rich people. Like, NLC, SAIL, BSNL.
(2) What does the society want?
Answer :
Society wants to improve economic infrastructure. lots of funding. And above all socio-Economic development.
(3) Write the objectives of Public sector.
Answer :
Objectives of Public sector :
- To encourage the development of small scale industries.
- To promote balanced regional growth.
- To create employment opportunities.
- To promote redistribution of income and wealth.
- To accelerate export promotion and import substitution.
(4) What are the three organs of public sectors?
Answer :
Three organs of public sectors are –
(i) Administration by a Government department.
(ii) The joint sector companies.
(iii) Public corporation.
(5) Name some indicators that measure socio-economic development.
Answer :
The name of some indicators that measure socio-economic development like GDP, life expectancy, literacy and levels of employment.
(6) Write short note on Private sector.
Answer :
The private sector is a part of country’s economic system that is run by individuals and companies, rather than the Government. Its allows concentrate of huge wealth in few hands or rich people. Like TVS Motors, Ashok Leyland, TATA Steel, etc.
(7) Name any three Major Private Sector industries.
Answer :
Three Major Private Sector industries are –
- TATA Major private companies.
- ICICI Bank limited.
- Infosys.
(VII) Answer the following in detail
(1) Explain the organs of public sector.
Answer :
There are three organs of public sector like,
(1) Administration by a Government department : It is very common almost in all countries like post and telegraph, railways, port trust, Irrigation projects on Indian etc.
(2) The joint sector companies : It is governed by a company law and controlled by the government as principle major share holders. Like : Indian oil Petronas Pvt. Unitd, Ratnagiri was and power PVT limited etc.
(3) Public Corporation : This type of organization is the establishment of public corporation by the state of parliament of legislates. Like – LIC, Air India. Electricity word.
(3) Explain any five measured indicators of socio – economic development.
Answer :
Five measured indicators of socio- economic development are –
• GDP : GDP means Cross domestic product which supports in developing socio-economic Development.
• Life expectancy : Government provides high degree of health measure through various programmers.
• Literacy : Educational skill plays a vital role in the socio – economic Development SARBYA – SIKSHA ABHIJAVN, RMSA, smart class, e-learning, five computer skill, eco-friendly studying all are increasing the level of education.
• Employment : A growing number of people moved unbans areas in search of employment Government started a smart city scheme which provides the city with many facilities.
• Provision of house clear drinking water and sanitization : Government sector provides housing facilities, clear drinking water facilities and sanitary facilities under clear Indian planning.
(4) What are the importance of public sector?
Answer :
The importance of public sector are –
(i) To collecting saving investing capital during the planning period.
(ii) To improve the economic development.
(iii) Public sectors are balanced Regional Development public enterprises have developed facilities there by bringing about complete transformation in the socio economic life of the people in these regions.
(iv) Public sector has erected millions of jobs to tackle the unemployment problem in the country. Its create a employment Generation.
(v) Some public sectors import promotion and foreign exchange earnings.
(vi) Public sectors protect many sick unit it takes over their responsibility and prevent many people from getting unemployed.
(vii) Some public sector enterprises weave started specifically to produce goods which wave formerly imported and thus to save foreign exchange.
(5) Write the differences between public and private sector.
Answer :
- Public sector :
(1) Ownership of industries is with government.
(2) Public revenue depends upon levy of takes, on income and commodities and services.
(3) Public sector ensures the proper wage
(4) It does not allow to concentrate huge wealth in few hands or rich people
(5) Industries like:- NLC, SAIL BSNL.
(6) No tax evasion.
(7) It is service oriented.
(8) Reservations are implemented priority is given to the socially backward people.
- Private sector :
(1) Ownership of industries is with private individuals.
(2) Issuing shares and debentures or by taking loans.
(3) Private sector exploits the workers.
(4) It allows concentrate of huge wealth in few hands or rich people.
(5) Industries like:- Ashok Leyland, TATA Steel.
(6) Tax evasion is possible.
(7) Profit oriented.
(8) Reservation is not allowed.
(6) Write the functions of private sector.
Answer :
Functions of private sector are –
(i) Promote and expand existing business.
(ii) Attract investment in the city.
(iii) Profit small micro and medium enterprises.
(iv) Develop and maintain infrastructure and services.
(v) Create innovation and modernization.
(vi) Manage the productive activities in a scientific manner.
Previous Chapter Solution :