Has some limitations, a few of which are:-
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Most government systems do not disclose info about a specific business or company, so an analyst cannot know all of the constituents of a particular category… Q. So, what does it mean? Can anyone explain with a simple example?
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Governments do not distinguish between large/small firms, for profit / not-for-profit, public/provate… Q. How is this an important consideration for industry classification?
I saw commercial classification - like there are 10 sectors, for example - the health care sector includes the firms with activities such as pharma, biotech, medical services, health care equipment, medical supplies, health care services, etc. So, now in this context, can someone show me the limitation of the above two points? How is commercial better than government? What is it that the government hides?