The state of Illinois was having budget difficulties, so it hired several private management consultancy firms to manage some state-owned enterprises. This is an example of privatization.

Name: The state of Illinois was having budget difficulties, so it hired several private management consultancy firms to manage some state-owned enterprises. This is an example of privatization.
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Question

The state of Illinois was having budget difficulties, so it hired several private management consultancy firms to manage some state-owned enterprises. This is an example of privatization.

Quizplus · Accepted Answer

Privatization refers to the process of selling state-owned enterprises to private investors.

The State of Illinois Was Having Budget Difficulties, So It