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WAEC Commerce 2019 Question 50

Question 50

Government and Business

The difference between commercialization and privatization is that commercialized businesses

  1. A.are government-owned while privatized businesses are owned by individuals.
  2. B.are non-profit making ventures while privatized businesses are profit oriented.
  3. C.can sell shares while privatized businesses cannot.
  4. D.employ more workers than privatized businesses.
Show the answer and explanation

Answer: A (are government-owned while privatized businesses are owned by individuals.)

Explanation

A commercialised firm stays government-owned but runs for profit; a privatised firm is sold to private owners.