Most nations recognize that private enterprise is detrimental to business growth and what is best for consumers.Recently,a nation had the opportunity to sell its government-owned telecommunication system to a private firm.Instead it realized that it would be better off if it raised taxes so that it could maintain the status quo.
Level of Learning 3: Application of principles

Question

Quizplus · Accepted Answer

This statement is not accurate. Most nations actually recognize the benefits of private enterprise in promoting competition, innovation and efficiency in the market. Additionally, the decision to raise taxes instead of selling a government-owned telecommunication system to a private firm may not necessarily be the best course of action for business growth and consumer welfare. This scenario requires a more detailed analysis of the costs and benefits of each option, considering factors such as market conditions, regulatory environment and long-term sustainability.

Most Nations Recognize That Private Enterprise Is Detrimental to Business