economic crises as they impact world economies because one economy's crisis can affect others through import dependency. The United States heavily relies on importing merchandise from India, which has a slow economic growth rate of 2.0%. If the US were to face a crisis and reduce imports to improve its negative trade balance, it would likely decrease Indian exports. Global outsourcing has resulted in companies sourcing materials from various regions worldwide, reducing individual economies' control over managing their own economy. Despite being the second most populated country globally with approximately 957 million people in 1996, India also remains one of the poorest countries with a per capita GDP of only US $338.Despite employing over 70 percent of the population, agriculture in India contributes only 35 percent to the GDP. The country has experienced significant economic expansion since 1994 but per capita income growth has been slowed by a population growth rate of around 2 percent per year. India gained independence from the British Empire in 1947 through partitioning based on religion, resulting in an independent India with a predominantly Hindu population and adopting aspects of British governance like a parliamentary system.

India is currently facing several problems, including water scarcity. As summer approaches, cities are already discussing water shortage issues and many villages lack access to safe drinking water. In terms of portable water quality, India disappointingly ranks as the 120th out of 122 countries evaluated. Despite having 4% of the world's water resources, studies show that water availability is steadily decreasing in India. It is projected that by 2020, India will become a nation facing water stress.

Alarmingly, nearly half of the villages still do not

have reliable sources of drinking water. Out of the total number of villages in India (1.42 million), approximately 195,813 are affected by chemical contamination in their water supply. Due to heavy reliance on groundwater for over 85% of domestic use, many regions face significant challenges regarding the quality of land-based sources as none of the rivers provide suitable drinking water options.
Additionally, every year, children account for over three-quarters of those affected by waterborne diseases. The excessive reliance on groundwater has resulted in contamination issues such as high levels of fluoride, which pose risks to approximately 66 million people across 20 states. This problem not only impacts public health but also hampers tourism and business opportunities while reducing communication with other countries, thus affecting India's economy. Furthermore, authorities in India have made efforts to effectively address the issue of overpopulation; however, significant challenges still persist (Google,2011). Despite having an abundance of agricultural resources, India struggles to meet the food demands due to its growing population size which surpassed one billion as per July 2003 statistics. With around 170 million hectares of cultivable land available, there is potential for high crop yields. However, the economic problems caused by the overpopulation crisis require the government to allocate more funds for providing basic needs to the expanding population. If population growth is effectively controlled, these funds can be utilized for other developmental activities in order to tackle challenges arising from the population explosion in the economy (pervaizin, 2009). According to the Delhi School of Social Work, there has been a significant increase in beggars' numbers in India. In just ten years since 1991, their numbers have risen by a

hundred thousand.Various sources have reported concerning figures regarding the presence of beggars in different cities across India. According to a survey conducted by Action Aid in 2004, Delhi had around 60,000 beggars and Mumbai had over 300,000. The Beggar Research Institute states that Kolkata has approximately 75,000 beggars, while police records show about 56,000 beggars in Bangalore. Hyderabad's Council of Human Welfare reported that one out of every 354 people engages in begging.

Beggars can be found at various locations such as garbage dumps, roadside areas, traffic lights, and under bridges. They include individuals who are frail or disabled or suffering from mental illness as well as women and children (pervaizin). The current economic crisis in India is closely connected to the issues of poverty and homelessness. As more people struggle to meet their basic needs, the number of beggars continues to rise.

Unemployment is also a significant problem due to a lack of skilled workers. Despite having a large population of educated youth in India, there is a shortage of individuals with skills in communication, analytical thinking, problem-solving abilities, and domain expertise. Poor communication skills are particularly detrimental as they result in rejection for 60 percent of candidates during interviews. Another five percent are rejected due to lacking analytical skills and an additional five percent due to insufficient knowledge in specific fields. Consequently, an alarming 90 percent of educated youth do not possess these essential employment skills.Only 10% of educated individuals are considered employable, which leads employers to offer high salary packages that increase production costs. This puts them at a disadvantage in global markets and worsens the economic downturn. The root cause lies within the

education system as institutes fail to align teachings with industry demands. Additionally, curriculum committees have not effectively coordinated with industries, resulting in a mismatch between what is taught and what industries require. Many large industries have implemented their own training programs to address this issue, leading to increased costs and wasted time for employers.

The text explores the challenges faced by women in India during the economic crisis, particularly regarding employment opportunities. As India is primarily an agricultural country, the economic crisis has significantly impacted job prospects for women. Traditional stereotypes are changing while new problems arise. Unemployment is on the rise in India, making it difficult for women to secure jobs. Even when employed, working women struggle with balancing work and home responsibilities.

Issues related to pregnancy and maternity leave also contribute to employer exploitation of female employees. Certain occupations still require unmarried women, causing them to quit their jobs upon marriage. Sexual harassment poses a growing problem in major cities and smaller towns across India.
The text discusses the challenges faced by working mothers in managing their children's education, as well as the demand for female office workers who can travel. Unfortunately, infrastructure problems in both urban and rural areas of India hinder meeting this demand effectively. These issues have not been given enough attention within economic development policies, resulting in limited progress compared to other countries. The rapid growth of industries further strains already limited urban infrastructure resources. This text emphasizes various infrastructure issues in India including housing, business premises, power supply, transportation, water provision, sewerage, airports, railways, seaports, roads, bridges,tourism infrastructure,solid waste management,and projects in SEZs and healthcare. The shortage of infrastructure could impede

India's economic prosperity. Balancing limited resources with unlimited wants and demands is a key aspect of the economic job. This can be seen in situations like choosing between two pairs of jeans or a hospital director having to prioritize patients due to limited resources.Businesses may also struggle to fulfill orders without adequate staff or materials.In less developed countries like Ethiopia,residents may face challenges obtaining basic necessities due to resource scarcityThe significance of informed decision-making in situations with limited resources is highlighted by these examples. Understanding this process is crucial for addressing the current economic issue. According to scribd (2009), selecting the structure is a pivotal choice when starting a new business. A business organization refers to an enterprise where individuals work together to maximize profit and produce goods and services to meet human needs. This includes all assets and employees within a commercial or industrial establishment. In the private sector, which consists of privately owned entities like limited companies, resources are allocated in a free enterprise economic system, unlike the public sector where governmental control exists. The private sector encompasses individuals and income-generating companies, excluding government-operated businesses. Public sector companies are classified separately from non-profit organizations such as charities in the voluntary sector (encyclopedia, 1977).

4.0 VARIOUS TYPES OF BUSINESS ORGANIZATION

Sole Trader

A sole trader or sole proprietorship is a business owned and managed by one individual who makes all decisions, assumes all responsibility, and receives all profits. Sole traders are considered small businesses or SMEs because they typically have only one employee who also serves as the owner of the company.Examples of sole trader businesses, such as electricians, gardeners, plumbers, interior decorators, and plasterers,

are traditional trades that can be easily managed by skilled shopkeepers. These types of businesses primarily rely on word-of-mouth marketing and mainly serve residential households (smallbusinesspro, 1999).

A partnership is formed when individuals start a business together with one or more partners. It is similar to a sole trader arrangement; however, in a partnership setting, all partners share equal responsibility for managing the business. Each partner personally carries financial accountability for any debts incurred by the partnership since they have joint liability.

A partnership can be defined as a business entity where multiple individuals work together as co-owners to conduct an ongoing profitable business. Legally, a partnership is considered a group of individuals rather than a single entity.

The text also explains different types of business structures and their characteristics. For example, in a partnership each partner reports their share of profits on their own tax returns. Another type is a joint venture or strategic alliance where businesses collaborate towards a common objective.

On the other hand, corporations are organizations established by groups of people with separate rights and liabilities from the individuals involved.Various forms of organizations exist, including non-profit organizations, municipal corporations, and private companies aiming for profit. Private limited companies offer limited liability to shareholders but have ownership restrictions in their articles of association or bylaws to prevent hostile takeovers. These companies may have one or more shareholders but cannot offer shares to the public. On the other hand, public limited companies require at least two shareholders and must issue shares worth at least ?50,000 before trading. Private unlimited companies are rare and typically formed for specific reasons (desktoplawyer,1994).

A conglomerate is a group of subsidiary companies that

are interconnected and collectively produce diverse types of products. It can be seen as a corporation comprising seemingly unrelated businesses. In a conglomerate, one company holds a controlling interest in several smaller companies that operate independently. However, senior management at the parent company oversees the management of its subsidiaries.

I would like to express my sincere gratitude to my lecturer, Ms.Oh, for her kind and willing assistance with our coursework and further explanations.

This assignment includes two questions: The first question discusses slow economic growth while the second question focuses on the private sector. Through the first question, I have gained knowledge about India's history and its challenges such as overpopulation.India is recognized as the most populous country compared to others. Additionally, I have gained knowledge about Business organization and analyzed a chart pertaining to the second inquiry. Moreover, this task has also provided me with insights into different types of business organizations such as partnerships and more.