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WAEC Commerce 2015 Question 7

Question 7

Government and Business

When Government acquires business enterprise formerly owned by individuals, it is termed

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

Answer: D (nationalization.)

Explanation

Government taking over privately owned businesses is nationalisation.