Nationalization involves government seizure of industries from private owners.

Question

Quizplus · Accepted Answer

Nationalization is the process by which a government takes control of industries or assets that were previously privately owned. This can be done through various means, such as buying out the owners or taking possession of the assets without compensation. This is different from privatization, which involves transferring management or ownership of previously government-run businesses or assets to private individuals or companies.

Nationalization Involves Government Seizure of Industries from Private Owners