Several years ago,the nation of Florentina had a government-owned telecommunication system that lagged far behind other nations.In several of its rural areas,there was only one phone for an entire village of people.Government taxes collected for the purpose of maintaining the telephone system were very meager,so the notion of expanding service was almost impossible.The government of Florentina decided to sell the phone company to a private firm.The private firm expanded rapidly.It reported that even poor consumers were willing to pay for a private phone line.This government decision and subsequent sale was:

Question

Quizplus · Accepted Answer

The decision to sell the government-owned telecommunication system to a private firm and allow the company to expand based on consumer demand is a characteristic of a capitalist system, where private entities own and operate businesses for profit.

Several Years Ago,the Nation of Florentina Had a Government-Owned Telecommunication