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In an economy, the sectors are classified into public and private on the basis of
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- employment conditions
- nature of economic activities
- ownership of enterprises
- use of raw materials
- employment conditions
Correct Option: A
Per capita Gross National Product (GNP) is the best index of development. It can be derived by dividing the GNP of a country with its population. Higher the level of per capita income, higher is the economic development. The World Bank, in its world development report 1998, classified the countries in the world on the bases of per capita GNP.
