Acquisition by a state of property previously held by private persons or companies, usually in exchange for some consideration is called ________.
A) expropriation
B) nationalization
C) privatization
D) municipalization

Question

Quizplus · Accepted Answer

Nationalization refers to the acquisition of private property by the state, usually with compensation given to the previous owners. Expropriation may also refer to the same process, but typically involves the state taking possession of private property without compensation. Privatization is the opposite process, in which state-owned property or assets are sold to private individuals or companies. Municipalization refers to the transfer of assets or services from private ownership to municipal or local government control.

Acquisition by a State of Property Previously Held by Private