Privatization refers to the process of
A)having government operate businesses for the betterment of the public sector.
B)government allowing the operation of privately owned business.
C)prohibiting government operated enterprises.
D)a country divesting itself of the ownership and operation of a business venture by turning it over to the free market system.

Question

Quizplus · Accepted Answer

Privatization refers to the transfer of ownership and control of a publicly owned enterprise to private investors or entities. This is usually done by divesting the government of its ownership shares and control over a business venture, and turning it over to the free market system where private owners can run it for profit. Therefore, option D is the most accurate definition of privatization.

Privatization Refers to the Process of