The sale of government-owned economic resources to private operators is called ________.

Question

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Privatization refers to selling off government-owned economic resources to private operators. Nationalization, on the other hand, is the acquisition of privately-owned economic resources by the government. Laissez-faire economics is a hands-off approach to economic policies, and guanxi is a Chinese term referring to personal relationships and connections.

The Sale of Government-Owned Economic Resources to Private Operators Is