11th GSEB BA/OCM Chapter-7 Lec 1 | Class 11 | Session 2022-23 | UKIC | Prof. Dimple Kachchhy

Created from Youtube video: https://www.youtube.com/watch?v=JF6Dr4UKkPcvideo

Concepts covered:public sector, industrialization, government intervention, employment opportunities, economic development

The video lecture by Prof. Dimple Kachchhy discusses the meaning and characteristics of the public sector, highlighting its establishment post-1947, the role of government in industrialization, and the differences between public and private sectors. It emphasizes the benefits of government intervention in backward areas, the generation of employment opportunities, and the importance of maintaining national interest and economic development.

Table of Contents1.Role and Impact of the Public Sector in Economic Development 2.Public Sector Characteristics and Comparison with Private Sector

chapter

Role and Impact of the Public Sector in Economic Development

Concepts covered:public sector, industrialization, economic development, social justice, employment generation

The chapter discusses the meaning and characteristics of the public sector, highlighting its role in industrialization post-1947 and the differences between public and private sectors. It emphasizes the public sector's contribution to national interest, economic development, social justice, and employment generation, while also addressing the government's efforts to prevent monopolies and promote industry in backward areas.

Question 1

Public sector is government-owned and controlled.

Question 2

How does public sector support national interest?

Question 3

Monopoly means there is only one _____.

Question 4

CASE STUDY: A government is ensuring social and economic justice through public sector companies.

All are public sector roles except?

Question 5

Government supports monopoly in industries.

Question 6

What is a key benefit of public sector?

Question 7

The government aims to maintain the national _____.

Question 8

CASE STUDY: A government is reducing monopoly by encouraging private sector participation.

All are benefits of reduced monopoly except?

Question 9

Public sector helps in generating employment opportunities.

Question 10

What role does government play in monopolies?

Question 11

Public sector companies started generating profit after the year _____.

Question 12

Public sector aims to increase national economic development.

Question 13

What defines a public sector enterprise?

Question 14

After 1947, the government focused on the establishment of _____.

Question 15

Monopoly means multiple sellers in the market.

Question 16

How did public sector evolve post-1947?

Question 17

The public sector is managed and controlled by the _____.

chapter

Public Sector Characteristics and Comparison with Private Sector

Concepts covered:public sector, employment opportunities, national interest, job security, ownership differences

The chapter discusses the characteristics of the public sector, highlighting its role in establishing basic industries, providing employment opportunities in backward areas, and maintaining national interest. It contrasts the public sector with the private sector, emphasizing job security, ownership differences, and the focus on social welfare over profit in public enterprises.

Question 18

Public sector offers more job security than private sector.

Question 19

What is a primary goal of public sector companies?

Question 20

Public sector jobs offer 100% _____ compared to private sector.

Question 21

CASE STUDY: A government-owned company is considering privatization to increase profitability.

What should the company prioritize during privatization?

Question 22

CASE STUDY: A public sector company is planning to expand into backward areas.

Select three outcomes of this expansion.

Question 23

Government ownership is common in public sector enterprises.

Question 24

What differentiates public from private sector wages?

Question 25

Government control is a characteristic of the _____ sector.

Question 26

CASE STUDY: A public sector enterprise is facing high unemployment in its region.

What should the enterprise focus on to reduce unemployment?

Question 27

Private sector prioritizes social welfare over profit.

Question 28

How does the public sector impact economic development?

Question 29

In the private sector, ownership can be _____ or group-based.

Question 30

Public sector contributes to economic development.

Question 31

How does public sector employment affect job security?

Question 32

The public sector primarily focuses on _____ before profit.

Question 33

Private sector offers higher job stability than public sector.

Question 34

What is a key characteristic of public sector ownership?

Question 35

Private sector primarily aims for _____ over social welfare.

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