A giant telecommunications company that was previously owned by the government of Sunzabia, a European country, is sold to an independent industrialist to ensure that the company is handled in a more efficient way. The given scenario exemplifies _____.
A) privatization.
B) globalization.
C) a joint venture.
D) a coalition.

Question

Quizplus · Accepted Answer

Privatization refers to the transfer of ownership of a business, enterprise, or public service from the government to private individuals or organizations.

A Giant Telecommunications Company That Was Previously Owned by the Government