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 government's decision to sell the phone company to a private firm and the subsequent expansion of the telecommunication system indicates a move toward capitalism, where private companies are allowed to own and operate industries and compete in the market.

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