Privatization refers to process of
A)having government operate businesses for the betterment of the public sector.
B)government allowing the operation of privately owned business.
C)prohibiting government operated enterprises.
D)a country divesting itself of the ownership and operation of a business venture by turning it over to the free market system.

Question

Quizplus · Accepted Answer

Privatization is the process of transferring ownership and control of a public enterprise to the private sector. It involves the divestment of government ownership in a business venture and the transfer of ownership to the free market system. This allows for more competition and efficiency in the marketplace, as private enterprises are motivated by profit and have more flexibility to respond to market demands.

Privatization Refers to Process of