Establishments which are owned and operated by individuals or groups of individuals are called:
Answer & explanation
Correct answer: option 4
The correct answer is Option (4) → Private sector establishments
Private sector establishments are those owned and operated by individuals or groups of individuals. Those owned and run by the government are public sector establishments.
A formal sector establishment is a different idea: it covers all public establishments and private ones with 10 or more hired workers.
NCERT (2026-27): Glossary: “Private Sector Establishments – All those establishments, which are owned and operated by individuals or group of individuals.” Glossary: “Public Sector Establishments – All those establishments which are owned and operated by the government. They may be run either by local government, state government or by central government independently or jointly.” |