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WAEC Commerce 2011 Question 1

Question 1

Government and Business

When the government gives up its ownership and control of a business to individuals, this is known as

  1. A.nationalization.
  2. B.commercialization.
  3. C.privatization.
  4. D.indigenization.
Show the answer and explanation

Answer: C (privatization.)

Explanation

Transferring government businesses to private owners is privatisation.