The process of converting government enterprises into privately owned firms is called ________.
A) demand
B) privatization
C) socialism
D) entrepreneurship

Question

Quizplus · Accepted Answer

Privatization refers to the process of transferring ownership and control of government enterprises to the private sector. It is often done to improve efficiency, reduce government spending, and encourage competition. Demand refers to the desire and willingness of consumers to purchase goods or services. Socialism is an economic system where the means of production are owned and controlled by the state, while entrepreneurship refers to the ability and willingness to start and run a business venture in order to make a profit.

The Process of Converting Government Enterprises into Privately Owned Firms