The government of Hillsank, a country in South America, transferred the ownership of the mining industry to the nongovernment sector, renouncing its own control. This is an example of _____.

Question

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This is an example of privatization, which refers to the process of transferring ownership of a business, enterprise, agency, public service, or public property from the government to the private sector.

The Government of Hillsank, a Country in South America, Transferred