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                                                            Describe various industries classified on the basis of ownership.      

Answer:

On the basis of ownership, industries can be classified as:

(i) Private sector: Owned or operated by an individual or a group of individuals.

(ii) Public sector: Owned and operated by the government.

(iii) Joint sector: Owned and operated by the state and an individual or a group of individuals.

(iv) Cooperative sector: Owned and operated by the producers or suppliers of raw-material or by both.