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WAEC Economics 2006 Question 21

Question 21

Business Organisations

The main difference between a private and a public enterprise is the

  1. A.amount of profit realized
  2. B.mode of operation
  3. C.objective of the business
  4. D.ownership structure.
Show the answer and explanation

Answer: D (ownership structure.)

Explanation

A private enterprise is owned by individuals while a public enterprise is owned by the government; ownership is the main difference.